Bitwise now manages over $4.5 billion in assets after acquiring ETC Group.
ETC Group's top product, a physical Bitcoin ETP, leads Europe's trade.
ETC's crypto ETPs will be rebranded post-acquisition under the Bitwise name.
Bitwise Asset Management has officially announced that it has acquired ETC Group, a market leader of crypto exchange-traded product (ETP) issuers based in London. The deal expanded Bitwise into further diversification and increased its assets under management to over $4.5 billion, affirming its global stand in crypto asset management.
https://twitter.com/BitwiseInvest/status/1825519476856541699
ETC Group is recognized for its physically-backed crypto ETP offering, including the largest traded physical Bitcoin ETP and others based on Ethereum, Solana, XRP, and the MSCI Digital Assets Select 20. After the close of the acquisition, it is intended that these products will be rebranded to the Bitwise name, a process expected to happen over the coming months.
Strategic Growth and Product Expansion
The CEO of Bitwise, Hunter Horsley, said the acquisition was strategic as it allowed the firm to offer its clients complete international insights and an expanded suite of innovative ETPs. According to Horsley, the firm's intentions are thus to chart the way to realizing its vision of being a flagship global crypto asset manager designed to suit investor and financial advisor needs within the sector's shifting dynamics.
Bitwise's expansion plans include leveraging ETC Group's six-year European platform to deliver crypto investment products and educational resources. The addition of ETC Group will upgrade Bitwise's product line while maintaining its high-quality standards and innovation in investment solutions.
Recent Developments and Future Outlook
Earlier this year, Bitwise launched its Bitwise Bitcoin ETF (BITB) and Bitwise Ethereum ETF (ETHW), two of the largest products, respectively, by asset accumulation. This is all part of Bitwise's bigger vision to innovate in the crypto-ETF space with regulated and secure diversified investment vehicles.
The acquisition of ETC Group could help cement Bitwise's place as one of the leading players in crypto asset management. Its expanding plans will thus build on ETC Group's offerings in Europe as it is already built on a solid platform that has served European investors with regulated access to the digital asset market.
Overview of ETC Group
ETC Group, established in 2019, is one of the key players in the European crypto market. The group specializes in institutional-grade crypto ETPs and has been at the forefront of offering products that meet the stringent demands of traditional financial markets, thereby providing secure avenues for investors entering the digital asset class.
ETC Group's products, including its flagship ETC Group Physical Bitcoin ETP, are offered at leading European exchanges, giving investors broad access.
The post Bitwise Asset Management Acquires ETC Group to Expand Global Crypto Footprint appeared first on Crypto News Land.
