Bitwise Asset Management has announced its acquisition of ETC Group, a digital assets company based in London.
Although the terms of the deal were not disclosed, this acquisition marks Bitwise’s first step into the European market and brings its total assets under management to over $4.5 billion.
The ETC Group was established in 2019, and it offers a variety of crypto products in Europe including ETPs backed by Bitcoin, Ethereum with staking, Solana, and XRP.
The company has over $1 billion in assets under management and is known for offering one of Europe’s most traded physical Bitcoin ETPs. After the acquisition, these products will be rebranded under the Bitwise name.
This deal is part of Bitwise’s plan to grow beyond the U.S. market. According to Bitwise CEO Hunter Horsley, the acquisition will allow the company to “serve European investors, offer global insights, and expand our range of products.” This move is in line with a trend where companies prefer buying existing businesses rather than starting new ones from scratch.
Moreover, Bitwise has been growing rapidly since 2023. Earlier this year, it launched its first spot Bitcoin ETF, which quickly attracted over $2 billion in investments. In July, it introduced a spot Ethereum ETF that gathered more than $300 million in assets within a few weeks.
By acquiring ETC Group, Bitwise is better positioned to offer a wider selection of crypto investment products to both U.S. and European investors.
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