Bitwise Buys London-Based ETC Group
Alex Dovbnya Crypto giant Bitwise acquires buys the creator of Europe's largest Bitcoin ETP Cover image via www.freepik.com Bitwise Asset Management, the leading cryptocurrency index fund manager, has announced the acquisition of ETC Group, one of the largest crypto ETP firms. With this deal, Bitwise is making a foray into the European market. ETC Group's European-listed products will be renamed with the brand of the new owner in the near future. Bitwise CEO Hunter Horsley says that his company is "looking forward" to bringing its expertise to Europe. ETC Group was founded back in 2019 in order to provide investors with opportunities to get exposure to the relatively nascent crypto market in the same way they get exposure to equities or commodity ETCs. In 2020, the company achieved a significant milestone by listing its Bitcoin ETP on the Deutsche Börse. Related In 2021, it achieved listings of physical ETPs for such cryptocurrencies as Cardano, Polkadot, Tezos, and Stellar. In July 2022, its flagship Bitcoin ETP was listed on Cboe Europe, a pan-European derivatives marketplace. During the same year, ETC Group also launched Europe's first metaverse ETP. Related As of 2024, ETC Group boasts more than $1 billion in assets under management across nine ETPs. Bitwise has stated that "no material changes" to the existing investment strategies will be offered immediately following the acquisition. Earlier this year, Bitwise made waves by kicking off the Bitcoin ETF race in the US together with such big names as BlackRock and Fidelity. Bitwise's BITB has so far attracted roughly $2 billion worth of inflows. Following the latest acquisition, Bitwise's AUM stands at $4.5 billion, according to the company's press release. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Alex Dovbnya Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected]. Related articles