Bitwise, a San Francisco-based asset management firm, has made a significant move into the European market with the acquisition of crypto investment company ETC Group. This strategic acquisition not only expands Bitwise’s reach but also adds nine crypto exchange-traded products (ETPs) listed in Europe to its portfolio.
ETC Group, based in London, boasts over $1 billion in assets under management and offers a range of physical crypto ETPs, including Bitcoin, Ethereum, Solana, XRP, and the MSCI Digital Assets Select 20. With this acquisition, Bitwise’s total assets under management now exceed $4.5 billion, solidifying its position as a key player in the crypto investment space.
Hunter Horsley, CEO of Bitwise, expressed excitement about the acquisition, stating that it allows the company to better serve European investors and expand its product suite with innovative ETPs. The ETC Group has a track record of launching successful exchange-traded products, including the Blockchain Equity ETF, which provides exposure to European blockchain-based businesses.
Bitwise has been making waves in the crypto investment world, with the recent approval of its Bitcoin ETF by the US Securities and Exchange Commission (SEC). The company also received approval for its Ethereum ETF, further solidifying its position as a leader in the industry.
The growing adoption of crypto ETPs is a clear indication of the increasing institutional demand for digital assets. With regulatory landscapes becoming more developed, the future looks bright for companies like Bitwise and ETC Group as they continue to innovate and expand their offerings.
Overall, the acquisition of ETC Group by Bitwise marks a significant milestone in the company’s growth and expansion into the European market. With a strong portfolio of crypto ETPs and a solid track record of success, Bitwise is well-positioned to capitalize on the growing interest in digital assets among investors worldwide.
