$BTC Australian crypto fund manager DigitalX announced on Tuesday that it had raised A$20.7 million ($13.5 million) from crypto investors, including Animoca Brands, UTXO Management, and ParaFi Capital.

Approximately $12.9 million will be allocated to expand its bitcoin treasury, while the remaining funds will cover the costs of the offer and working capital.

"This capital raise marks a pivotal moment for the company, reflecting a renewed emphasis on bitcoin as the ongoing foundation of DigitalX's digital asset strategy," the press release said.

The strategic placement also involves investment from CEOs of publicly listed firms, including Metaplanet CEO Simon Gerovin