- Bitwise acquires ETC Group, increasing into Europe with $4.5B in crypto AUM.
- ETC Group’s merchandise will rebrand below Bitwise however there can be no modifications to methods.
- Bitwise anticipates a shift in crypto with the introduction of spot Bitcoin ETFs.
In a strategic transfer to broaden its international footprint, Bitwise, the most important crypto index fund supervisor in america, has acquired London-based ETC Group, a outstanding issuer of crypto exchange-traded merchandise (ETPs).
This acquisition, introduced on August 19, 2024, marks Bitwise’s important enlargement into the European market, including greater than $1 billion in property below administration (AUM) to its portfolio and bringing the agency’s whole AUM to over $4.5 billion.
ETC Group acquisition offers Bitwise a foothold in Europe
Based in 2019, ETC Group has established itself as a key participant within the European crypto market, providing a variety of ETPs, together with these primarily based on Bitcoin, Ethereum, Solana, and Ripple. These merchandise can be rebranded below the Bitwise title within the coming months, though the agency has assured that there can be no materials modifications to the development or targets of the prevailing ETC funding methods.
Bitwise views this enlargement as a pivotal second in its progress technique, notably because it anticipates a dramatic shift within the crypto panorama with the introduction of spot Bitcoin ETFs. In response to the CEO of Bitwise, Hunter Horsley, the acquisition permits the corporate “to serve European traders, provide shoppers international perception, and broaden the product suite with progressive ETPs.”
Bitwise’s transfer into Europe comes on the heels of a number of profitable product launches within the US, together with the Bitwise Bitcoin ETF and the Bitwise Ethereum ETF, which have collectively attracted over $2 billion in property since their inception earlier this 12 months.
The acquisition additionally aligns with Bitwise’s prediction of a surge in institutional funding in crypto ETFs, as main monetary establishments more and more provide these merchandise to their shoppers.
As Bitwise integrates ETC Group into its operations, the agency is poised to capitalize on the rising demand for digital property throughout either side of the Atlantic, additional solidifying its place as a number one drive within the crypto funding area.
