In response to a press launch despatched to Bitcoin Journal, Bitwise Asset Administration has introduced the acquisition of London-based ETC Group, the most important issuer of Europe’s bodily Bitcoin ETP (BTCE). The acquisition not solely expands Bitwise’s world footprint but additionally provides greater than $1 billion in property beneath administration to its portfolio.
Simply launched: 🇺🇸In inventory #bitcoin ETF issuer Bitwise enters Europe by buying Europe’s largest bodily Bitcoin ETP issuer ETC Group🇪🇺 pic.twitter.com/EHz3ssB2Ut
— Bitcoin Journal (@BitcoinMagazine) August 19, 2024
“Bitwise is constructing a world crypto asset administration firm for buyers and monetary advisors who desire a best-in-class accomplice specializing on this quickly rising asset class,” stated Bitwise CEO Hunter Horsley. “This acquisition allows us to serve Europe Investor providers present shoppers with world insights and develop product portfolio by revolutionary ETPs. As a longtime asset supervisor within the cryptocurrency market, we’ve established a powerful repute amongst advisors, establishments and buyers over the previous six years. repute, of which we’re very proud and look ahead to bringing this experience to European buyers.
Based in 2019, ETC Group has constructed a repute as Europe’s main cryptocurrency ETP issuer, providing a spread of bodily supported merchandise together with Bitcoin and different cryptocurrencies. Within the coming months, these ETPs might be renamed Bitwise, however the core funding technique will stay the identical.
“We consider Bitwise is constructing a best-in-class firm for this new asset class and has confirmed their professionalism and management through the years,” stated Bradley Duke, co-founder of ETC Group. “For asset managers, tradition and values are paramount and we’re very excited to proceed our work in Europe as a part of Bitwise.”
With the addition of ETC Group merchandise, Bitwise’s whole property beneath administration now exceed $4.5 billion, and its U.S. Spot Bitcoin ETF (BITB) turns into one of many 25 fastest-growing ETPs of all time, with property now approaching over $2 billion .
