Bitwise, a San Francisco-based asset manager, has made its entry into the European markets by acquiring the crypto investment firm ETC Group. The financial terms of the deal remain undisclosed. ETC Group, headquartered in London, manages over $1 billion in assets, offering a variety of crypto exchange-traded products (ETPs) such as Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and MSCI Digital Assets Select 20 (DA20). With this acquisition, Bitwise now oversees nine European-listed crypto ETPs, boosting its total assets under management to over $4.5 billion. Bitwise CEO Hunter Horsley expressed excitement about serving European investors and expanding their product range with innovative ETPs. ETC Group, known for launching crypto ETPs since 2020, also introduced a blockchain equity exchange-traded fund (ETF) in Europe. Bitwise, a key player in the US Bitcoin ETF market, recently received approval for its Bitwise Bitcoin ETF (BITB) and Bitwise Ethereum ETF (ETHW), accumulating significant assets in both funds. The growth of crypto ETP adoption is anticipated, driven by institutional interest and evolving regulatory frameworks. Read more AI-generated news on: https://app.chaingpt.org/news