Bitwise Expands European Footprint with Acquisition of ETC Group, Adding $1B in AUM and Nine ETPs

Bitwise has made a significant move into Europe by acquiring ETC Group, a London-based company. This acquisition adds nine exchange-traded products (ETPs) to Bitwise’s offerings.

Among these products are a physical bitcoin product called BTCE and a staked ether ETP known as ET32.

The financial details of the deal remain undisclosed. However, it’s noteworthy that ETC Group brings $1 billion in assets under management (AUM) to Bitwise. This pushes Bitwise’s total AUM above $4.5 billion.

Bitwise is already recognized as a key player in the U.S. market, where it issues spot bitcoin and ether exchange-traded funds (ETFs). With this acquisition, Bitwise plans to enhance its presence in Europe.

This strategic move reflects Bitwise's commitment to expanding its offerings and reaching more investors. It’s an exciting development in the evolving landscape of crypto assets.