Bitwise, a major player in digital asset management in the United States, has acquired ETC Group, a London-based provider of exchange-traded products (ETPs), strengthening its presence in the European market and increasing its total AUM to over $4.5 billion.
A Strategic Acquisition for Bitwise
This acquisition allows Bitwise to establish a foothold in the European market, further strengthening its global presence in the crypto asset industry.
The ETP Products of ETC Group: An Asset for Bitwise
The ETC Group is known for its nine ETP products listed in Europe, including Europe’s largest physical Bitcoin product (BTCE) and an ETP on staked Ether (ET32). These products complement Bitwise’s portfolio, offering increased diversification for its clients and streamlined access to cryptocurrencies through structured financial products. This acquisition allows Bitwise to expand its influence in the European market by providing investment solutions tailored to an increasingly demanding audience for financial and crypto products.
Future Expansions in the European Market
With this acquisition, Bitwise not only plans to maintain ETC Group’s current offering, but also aims to expand its platform in Europe. Already recognized for its Bitcoin and Ethereum Spot ETFs in the United States, Bitwise intends to leverage this expansion to introduce new innovative products to the European market. This could include the launch of new ETPs or the introduction of spot ETFs similar to those already available in the United States.
