Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase
Expanding its product suite, the acquisition bolsters Bitwise's European influence with leading digital asset offerings.
1 min read
Updated: Aug. 19, 2024 at 2:59 pm UTC
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Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europe’s largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwise’s assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.
The acquisition includes Europe’s largest physical Bitcoin ETP, the ET32 Ethereum staking ETP, and the ESOL Solana physical ETP, among others. It expands Bitwise’s product offerings and global insights for its clients.
Hunter Horsley, CEO of Bitwise, expressed enthusiasm for integrating ETC Group’s team, highlighting the alignment with Bitwise’s mission to help investors navigate the opportunities in the crypto space.
Since its inception in 2017, Bitwise has provided investors access to a diverse range of crypto products supported by independent research and due diligence. Horsley commented that the acquisition of ETC Group marks a significant step in Bitwise’s journey to broaden its reach and enhance its service offerings for investors in Europe and beyond.
Consequences of ETC Group acquisition
Bitwise’s acquisition of ETC Group offers several key benefits that enhance its position in the crypto investment landscape. The acquisition increases Bitwise’s assets under management, thereby strengthening its financial standing and market influence.
Moreover, the acquisition allows Bitwise to leverage ETC Group’s expertise and insights in the European market, where ETC Group is well-established with products domiciled in Germany. By integrating ETC Group’s team, Bitwise gains valuable human capital that can drive innovation and product development.
As reported by Bloomberg Law, the consolidation within the industry reflects a broader trend where firms seek to strengthen their competitive edge through strategic acquisitions. This move positions Bitwise as a more formidable player in the crypto asset management sector, capable of providing comprehensive and innovative solutions to meet the evolving needs of investors in the digital asset space.
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Liam 'Akiba' Wright
Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$2,363.86
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$135.128
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Bitwise
Bitwise Asset Management pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the cryptoasset space..
Hunter Horsley, the Co-founder and CEO of Bitwise Asset Management, brings a wealth of experience from his tenure as a Facebook product manager.
