Bitwise Expands to Europe, Acquires ETC Group and $1 Billion in Crypto Assets

• Bitwise’s acquisition of ETC Group adds $1 billion in assets and nine European crypto ETPs, boosting its global portfolio.
• The acquisition increases Bitwise’s assets under management to over $4.5 billion, enhancing its product suite in Europe.
• Bitwise’s expansion into Europe aligns with its strategy to become a global leader in crypto asset management.

Bitwise Asset Management has expanded its reach into Europe by acquiring the London-based ETC Group, a move that adds $1 billion in assets under management to its portfolio. The acquisition, which significantly bolsters Bitwise’s presence in the European market, includes nine cryptocurrency exchange-traded products (ETPs) listed across Europe.

Bitwise Strengthens Global Portfolio

With this acquisition, Bitwise now manages over $4.5 billion in assets. The deal not only increases Bitwise’s assets under management but also enhances its product suite, offering European investors access to innovative cryptocurrency ETPs. Among these products are well-known names like XRP (GXRP), Bitcoin (BTCE), Ethereum with staking (ET32), Solana (ESOL), and MSCI Digital Assets Select 20 (DA20).

CEO’s Vision for Global Leadership

Hunter Horsley, CEO of Bitwise, emphasized that the acquisition aligns with the company’s broader strategy to lead globally in crypto asset management. This calculated expansion into Europe will enable Bitwise to provide a wider range of cutting-edge products to European investors. The addition of ETC Group’s established ETPs to Bitwise’s offerings reflects a growing institutional demand for diversified crypto investment solutions.

ETC Group’s influence in Europe, with the bioregionalisation as its latest plan.

The ETC Group has been active since 2019, and it has already influenced the position of the European market by introducing cryptocurrency ETPs in 2020. These products, which were approved by Germany’s BaFin, are for the first time listed on Deutsche Börse Xetra. It also has a blockchain equity exchange-traded fund (ETF) allowing European investors to invest in companies associated with blockchain technology.

Expanding Bitwise’s Reach

Bitwise has already made substantial progress in the U.S. cryptocurrency investment market. As of August 19, the company’s spot Bitcoin ETF (BITB) had attracted nearly $2.27 billion in assets. Additionally, Bitwise was authorized to introduce a spot Ether ETP (ETHW), which quickly amassed over $300 million in assets, underscoring the increasing institutional interest in cryptocurrency ETPs.