Bitwise Acquires ETC Group, A London-Based Crypto ETP Issuer

Bitwise Asset Management announced the acquisition of ETC Group, a London-based issuer of crypto Exchange-Traded Products (ETPs). 

On 20 August 2024, Bitwise made this strategic expansion to enhance its product offerings, particularly in the burgeoning European market.

The acquisition of ETC Group marks a major milestone for Bitwise, increasing its total assets under management to $4.5 billion. 

“We’re excited to share that Bitwise has acquired ETC Group, the London-based digital asset manager and creator of Europe’s largest physical Bitcoin ETP (BTCE),” said Bitwise. “The acquisition deepens our industry-leading suite of crypto products and brings Bitwise clients access to global insights.”

Great news! Bitwise expanding in Europe by acquiring ETC group. https://t.co/ZYBjQ1q57v

— Alessandro Ottaviani (@AlexOttaBTC) August 19, 2024

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Bitwise Gains Direct Access To Europe 

Known for launching Europe’s first physically-backed Bitcoin ETP, ETC offers a diverse range of ETPs, including those for Ethereum, Solana, and XRP.

By acquiring ETC Group, Bitwise gains direct access to Europe, enhancing its ability to offer a broader array of investment options to European clients

Europe is becoming a critical hub for cryptocurrency and digital asset innovation, thanks to its clear regulatory framework MiCA. 

The integration of ETC Group’s nine European crypto ETPs into Bitwise’s offerings puts the company in a strong position. 

The company will be able to meet the growing demand for regulated and transparent financial instruments in the digital asset space.

Plans To Rebrand ETC Group’s Products

The company plans to rebrand the ETC products under the Bitwise name, while maintaining the existing investment strategies.

This approach ensures continuity for current investors while allowing Bitwise to introduce new, innovative ETPs to the market.

The merger also represents a significant consolidation in the digital asset industry. The partnership creates a more competitive entity capable of offering a diversified range of investment products.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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