Bitwise Expands to Europe with Acquisition of ETC Group, Adding 9 Crypto ETFs

Crypto Fund Manager Bitwise expanded its presence in Europe by acquiring London-based ETC Group, adding 9 exchange-traded products (ETPs) to its portfolio.

While financial terms were not disclosed, the acquisition brings an additional $1 billion in assets under management (AUM) to Bitwise, bringing the company’s total AUM to more than $4.5 billion. according to a press release dated August 19 announcement.

Bitwise Adds BTC, XRP, and SOL ETPS to Its Arsenal

Among the ETPs that Bitwise has added to its portfolio is what it calls “the largest and most widely traded physical Bitcoin ETP (BTCE).”

Ethereum Fully Collateralized Fund with Staking (ET32), Solana (ESOL), XRP (GXRP) and MSCI Digital Assets Select 20 (DA20) were acquired.

“Bitwise is heading to Europe”

— James Seyffart (@JSeyff) August 19, 2024

Bitwise is one of the biggest players in the crypto space. Earlier this year, it launched its own Bitcoin spot ETF (exchange-traded fund) with the ticker BITB.

Since its inception, the fund has become “one of the 25 fastest-growing ETPS of all time,” according to the announcement. The fund currently has more than $2 billion in assets under management.

In July, Bitwise also launched its first spot Ethereum ETF called Bitwise Ethereum ETF (ETHW). It also performed well, with its reserves surpassing $300 million in its first few weeks.

Bitwise’s Spot BTC ETF Sees Outflows While Its ETH Fund Sees Additional Investments

Data from Farside Investors shows that BITB was one of only two funds to record outflows yesterday. Franklin’s EZBC was the other fund to see money leave its reserves.

Most spot Bitcoin ETFs saw no inflows on the day, with the exception of BlackRock’s IBIT and Fidelity’s FBTC. Both of these ETFs managed to keep yesterday’s net inflows positive.

Look on site Ethereum ETF Flow For the same day, Bitwise’s ETHW was one of the only funds to see inflows. Grayscale’s ETH fund also saw positive flows, while Grayscale’s ETHE pushed the day’s net flows into the negative.

Related articles:

PlayDoge (PLAY) – The Latest ICO on the BNB Chain

• Virtual Pet Dog 2D
• Play to win Meme Coin Fusion
• Staking and In-Game Token Rewards
• SolidProof Audit – playdoge.io