Pre-seed funding for bitcoin-native startups rose by 50% in 2024, according to Trammell Venture Partners. This surge comes despite a general slowdown in tech venture capital.

From 2021 to 2024, pre-seed deals jumped by 767%, with early-stage bitcoin startups attracting nearly US$1.2 billion over four years.

Bitcoin’s value more than doubled in 2024, and ethereum rose by over 40%. The Securities and Exchange Commission’s (SEC) approval of bitcoin and ethereum ETFs, along with Donald Trump’s 2024 election win, boosted investor interest.

However, total capital raised by bitcoin-native startups across all funding rounds through series B fell by 22% in 2024.

Trammell’s managing director, Christopher Calicott, pointed to the rise in pre-seed activity as a sign of long-term potential. Meanwhile, crypto VC funding is showing recovery.

Deals topped US$1.1 billion in February 2025, and PitchBook expects crypto VC to nearly double by the end of 2025. US venture investment also rebounded, rising 30% to US$215 billion in 2024.