Bitwise expands into Europe with strategic acquisition of ETC Group

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Bitwise Asset Management has acquired ETC Group, a London-based exchange-traded crypto product (ETP) issuer with over $1 billion in assets under management. According to their announcement, this acquisition marks Bitwise’s entry into the European market and adds nine European-listed crypto ETPs to its portfolio.

The ETC Group suite includes the largest and most traded physical Bitcoin ETP (BTCE), as well as ETPs for staked Ethereum (ET32), Solana (ESOL), XRP (GXRP) and MSCI Digital Assets Select 20 (DA20).

These physically supported products will be rebranded as Bitwise in the coming months.

“Bitwise is building a global crypto asset manager for investors and financial advisors who want a best-in-class partner specializing in this fast-growing asset class,” said Hunter Horsley, CEO of Bitwise. “This acquisition allows us to serve European investors, provide clients with a global perspective and expand our product range with innovative ETPs.”

Notably, the acquisition increases Bitwise’s total assets under management to over $4.5 billion. Additionally, this follows the launch of Bitwise’s spot Bitcoin ETP, Bitwise Bitcoin ETF (BITB), in January, which surpassed $2 billion in assets.

In July, the company introduced the Bitwise Ethereum ETF (ETHW), amassing more than $300 million in assets in a matter of weeks.

“We believe Bitwise is building the best firm for this new asset class and has proven its professionalism and leadership over many years,” said ETC Group co-founder Bradley Duke.

Bitwise plans to strategically expand ETC Group’s existing platform in Europe, building on its six-year track record of investment and education products in the crypto sector.

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