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Bitwise Acquires ETC Group, Expands into European Crypto Market
Summary: Bitwise Asset Management, a U.S.-based crypto fund manager, has expanded into Europe by acquiring London-based ETC Group, marking its first European acquisition. This move highlights the growing trend of U.S. firms entering the European market, following Robinhood’s $200 million purchase of Bitstamp. Bitwise’s CEO, Hunter Horsley, emphasized that the acquisition allows the company to serve ...
Bitwise Asset Management, a U.S.-based crypto fund manager, has expanded into Europe by acquiring London-based ETC Group, marking its first European acquisition. This move highlights the growing trend of U.S. firms entering the European market, following Robinhood’s $200 million purchase of Bitstamp. Bitwise’s CEO, Hunter Horsley, emphasized that the acquisition allows the company to serve European investors and expand its product suite, leveraging the larger U.S. market for global growth.
ETC Group manages $1.1 billion in assets, including its flagship Physical Bitcoin ETP (BTCE), and offers a range of crypto products focused on second-tier cryptocurrencies like Solana, Litecoin, and Cardano. This acquisition will enable Bitwise to explore new opportunities in Europe, where regulations permit a wider range of crypto products than in the U.S. Post-acquisition, Bitwise expects to manage approximately $4.5 billion in assets, rebranding ETC’s products under the Bitwise name.
Bradley Duke, ETC Group’s co-founder, expressed optimism about the partnership, highlighting the complementary strengths of both companies. With Bitwise’s expertise in the U.S. market and ETC’s established European presence, the acquisition positions Bitwise to expand its reach and capitalize on Europe’s more flexible regulatory environment for crypto investments.
Tags: Bitwise,ETC Group,ETP,Robinhood
Link: Bitwise Acquires ETC Group, Expands into European Crypto Market [Copy]
