{"id":36295,"date":"2024-08-20T05:44:34","date_gmt":"2024-08-20T05:44:34","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitwise-expands-into-european-market-with-acquisition-of-etc-group\/"},"modified":"2024-08-20T05:44:34","modified_gmt":"2024-08-20T05:44:34","slug":"bitwise-expands-into-european-market-with-acquisition-of-etc-group","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitwise-expands-into-european-market-with-acquisition-of-etc-group\/","title":{"rendered":"Bitwise Expands into European Market with Acquisition of ETC Group"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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By purchasing London-based ETC Group, Bitwise, a cryptocurrency asset management, has expanded into the European market and added nine exchange-traded products (ETPs) to its offering. The transaction\u2019s financial specifics were kept under wraps. But according to a Monday announcement, Bitwise\u2019s total assets under management (AUM) now exceed $4.5 billion as a result of the transaction, which also adds $1 billion from ETC Group to Bitwise\u2019s current AUM.<\/p>\n

Strengthening Global Presence<\/h2>\n

The ETPs from ETC Group, which include a staked ether ETP (ET32) and a physical bitcoin product (BTCE), have been listed throughout Europe for a number of years. In contrast to the United States, where cryptocurrency-linked products have gained popularity recently, Europe has a longer history of marketing these products under the ETP classification. Bitwise intends to extend ETC Group\u2019s platform throughout Europe. Bitwise is currently a well-known issuer of spot bitcoin and ether exchange-traded funds (ETFs) in the United States.<\/p>\n

This strategic acquisition marks Bitwise\u2019s continued efforts to become a global leader in crypto asset management. \u201cBitwise is building a global crypto asset manager for investors and financial advisors who want a best-in-class partner specialized in this fast-growing asset class,\u201d<\/em> said Hunter Horsley, CEO of Bitwise.<\/p>\n

The acquisition reflects Bitwise\u2019s intent to leverage ETC Group\u2019s established presence in Europe, where crypto products have matured earlier than in the U.S. With the recent approval of spot crypto ETFs in the U.S., companies like Bitwise are increasingly eyeing opportunities abroad. Bitwise\u2019s U.S.-listed bitcoin ETF (BITB) currently manages around $2.2 billion in assets, while its ether ETF (ETHW) holds just over $300 million.<\/p>\n

As Bitwise integrates ETC Group\u2019s products, it will be well-positioned to meet the growing demand for crypto investment products in both the U.S. and Europe. The move not only strengthens Bitwise\u2019s portfolio but also enhances its ability to serve a broader range of investors and financial advisors seeking exposure to the rapidly evolving crypto market.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) By purchasing London-based ETC Group, Bitwise, a cryptocurrency asset management, has expanded into the European market and added nine exchange-traded products (ETPs) to its offering. The transaction\u2019s financial specifics were kept under wraps. But according to a Monday announcement, Bitwise\u2019s total assets under management (AUM) now […]<\/p>\n","protected":false},"author":34,"featured_media":36296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36295"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36295"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36296"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}