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Home” Ecosystem” Bitwise broadens to Europe with tactical acquisition of ETC Group
by
Gino Matos
Aug. 19, 2024
Acquisition includes $1 billion in possessions and 9 European-listed crypto ETPs to Bitwise’s portfolio.
Secret Takeaways
- Bitwise gets ETC Group, including $1 billion in properties and 9 European-listed crypto ETPs.
- Acquisition increases Bitwise’s overall properties under management to over $4.5 billion.
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Bitwise Asset Management has actually gotten ETC Group, a London-based crypto exchange-traded item (ETP) provider with over $1 billion in possessions under management. According to their statement, this acquisition marks Bitwise’ s entry into the European market and includes 9 European-listed crypto ETPs to its portfolio.
And so on Group’ s suite consists of the biggest and most traded physical Bitcoin ETP (BTCE), along with ETPs for Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and the MSCI Digital Assets Select 20 (DA20).
These physically-backed items will be rebranded under the Bitwise name in the coming months.
Bitwise is constructing an international crypto property supervisor for financiers and monetary consultants who desire a best-in-class partner concentrated on this fast-growing property class,” mentioned Hunter Horsley, Bitwise’ s CEO. This acquisition enables us to serve European financiers, to use customers international insight, and to broaden the item suite with ingenious ETPs.”
Significantly, the acquisition increases Bitwise’ s overall possessions under management to over $4.5 billion. In addition, this follows the launch of Bitwise’ s area Bitcoin ETP, the Bitwise Bitcoin ETF (BITB), in January, which has actually gone beyond $2 billion in properties.
In July, the business presented the Bitwise Ethereum ETF (ETHW), building up more than $300 million in properties within weeks.
We believe Bitwise is developing the best-of-breed company for this brand-new possession class and have actually shown their professionalism and management over several years,” revealed ETC Group co-founder Bradley Duke.
Bitwise prepares to tactically broaden the existing ETC Group platform in Europe, developing on its six-year performance history of financial investment items and education in the crypto sector.
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