Key takeaways
- Bitwise Acquires ETC Group, Adding $1 Billion in Assets and Nine Europe-Listed Crypto ETPs
- This acquisition increases Bitwise’s total assets under management to more than $4.5 billion.
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Bitwise Asset Management has acquired ETC Group, a London-based issuer of crypto exchange-traded products (ETPs) with over $1 billion in assets under management. According to their announcement, the acquisition marks Bitwise’s entry into the European market and adds nine European-listed crypto ETPs to its portfolio.
ETC Group’s suite includes the largest and most traded physical Bitcoin ETP (BTCE), as well as ETPs for Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and the MSCI Digital Assets Select 20 (DA20).
These physical products will be rebranded under the Bitwise name in the coming months.
“Bitwise is building a global crypto asset manager for investors and financial advisors who want a best-in-class partner focused on this growing asset class,” said Hunter Horsley, CEO of Bitwise. “This acquisition allows us to serve European investors, offer our clients a global perspective, and expand our product offering with innovative ETPs.”
This acquisition notably brings Bitwise’s total assets under management to over $4.5 billion. Additionally, it follows the launch in January of Bitwise’s spot Bitcoin ETP, the Bitwise Bitcoin ETF (BITB), which surpassed $2 billion in assets.
In July, the company launched the Bitwise Ethereum ETF (ETHW), accumulating over $300 million in assets in just a few weeks.
“We believe Bitwise is building a best-in-class business for this new asset class and has proven its professionalism and leadership over many years,” said Bradley Duke, co-founder of ETC Group.
Bitwise plans to strategically expand the existing ETC Group platform in Europe, leveraging its six years of experience in investment products and education in the crypto industry.
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