ETC Group Acquisition: How Bitwise is Strengthening Its European ETP Market Presence

ETC Group Acquisition: $4.5 Billion Asset Manager Acquires ETC Group and Adds Nine ETPs

ETC Group Acquisition– Bitwise, a leading digital asset manager, has announced its acquisition of ETC Group, a prominent issuer of cryptocurrency exchange-traded products (ETPs) based in London. This significant move elevates Bitwise’s total assets under management to over $4.5 billion and expands its product offerings with nine new European-listed ETPs.

Key Benefits of the Acquisition for Bitwise

The acquisition strengthens Bitwise’s presence in Europe and enhances its ability to serve European investors. Bitwise CEO Hunter Horsley highlighted that this strategic acquisition allows the company to offer clients valuable global insights and broaden its product suite with innovative ETPs.

How Will Bitwise’s Acquisition of ETC Group Impact Its European ETP Portfolio?

Bitwise is known for its impactful digital asset products. The firm’s spot bitcoin exchange-traded fund (ETF), BITB, achieved a notable $54.07 million in trading volume on its latest trading day, maintaining a 3.74% share of the spot Bitcoin ETF market. Additionally, Bitwise’s spot ether ETF, ETHW, which launched in July, traded at $18.83 per share as of 9:35 a.m. ET (13:35 UTC) and recorded a daily trading volume of $4.12 million as of August 16.

With the acquisition of ETC Group, Bitwise is significantly bolstering its European ETP portfolio. The addition of nine new digital asset ETPs is set to enhance the company’s offerings and provide greater access to European investors.

What This Means for the Cryptocurrency Market

This expansion not only solidifies Bitwise’s position in the European market but also signals a growing trend in the digital asset management industry. The integration of ETC Group’s products into Bitwise’s portfolio underscores the increasing demand for innovative and diverse cryptocurrency investment options.