Function's latest funding round, led by Galaxy Digital, aims to bolster institutional-grade yield solutions for Bitcoin, with FBTC currently valued at $1.5 billion.
Function has successfully completed a $10 million seed round of financing, led by Galaxy Digital, to advance institutional-grade yield solutions for Bitcoin via its FBTC product, which boasts a total locked value of $1.5 billion. The investment will also see Galaxy Digital engage in liquidity provision and governance framework design for FBTC, supporting the company's strategic goals for proactive asset management by 2026.