Bitwise Asset Management announced the acquisition of ETC Group, a London-based digital asset manager best known for creating Europe’s largest physical Bitcoin ETP, BTCE. This strategic move brings Bitwise’s assets under management (AUM) to over $4.5 billion and strengthens its ability to serve European investors with institutional-grade products.
The acquisition includes, among others, Europe’s largest physical Bitcoin ETP, the Ethereum staking ETP ET32 and the physical ETP ESOL Solana. It expands Bitwise’s product offering and global outlook for its clients.
Hunter Horsley, CEO of Bitwise, expressed his excitement about joining the ETC Group team, highlighting the alignment with Bitwise’s mission of helping investors navigate opportunities in the crypto space.
Since its inception in 2017, Bitwise has provided investors with access to a diverse range of crypto products backed by independent research and due diligence. Horsley commented that the acquisition of ETC Group marks an important milestone in Bitwise’s journey to expand its reach and enhance its service offering for investors in Europe and beyond.
Consequences of the acquisition of the ETC group
Bitwise’s acquisition of ETC Group offers several key benefits that strengthen its position in the crypto investment landscape. The acquisition increases Bitwise’s assets under management, strengthening its financial position and market influence.
Furthermore, this acquisition allows Bitwise to leverage ETC Group’s expertise and knowledge in the European market, where ETC Group is well established with products domiciled in Germany. By integrating the ETC Group team, Bitwise gains valuable human capital that can drive innovation and product development.
As Bloomberg Law reports, the consolidation within the industry reflects a broader trend in which companies are looking to strengthen their competitive advantage through strategic acquisitions. The move positions Bitwise as a more formidable player in the crypto asset management space, capable of providing comprehensive and innovative solutions to meet the evolving needs of investors in the digital asset space.
