Bitwise Asset Management Secures ETC Group, Promises Smooth Transition

Bitwise Asset Management has completed the acquisition of ETC Group, strengthening its market presence in the European region.

Bitwise Asset Management has acquired ETC Group, a provider of exchange-traded products (ETPs) in Europe. The acquisition will see the names of ETC Group’s ETPs change to Bitwise in the coming months, while the underlying construction and purpose of the products will remain the same.

The acquisition will also see Bitwise continue to provide physical asset-backed ETPs, giving investors direct exposure to the underlying digital assets such as Bitcoin and Ethereum.

“This acquisition allows us to better serve European investors,” said Hunter Horsley, CEO of Bitwise, in a statement. “As we expand our footprint on the continent, our goal is to provide a global approach to our clients, further cementing Bitwise as a leader in crypto asset management. We look forward to bringing our proven solutions to the European markets.”

“Bitwise is a leader in crypto asset management, and we are excited to continue the mission in Europe under their leadership,” said Bradley Duke, co-founder of ETC Group, in a statement. “Both firms are culturally and value similar, and we believe this acquisition will be a success.”

The merger will bring Bitwise’s assets under management (AUM) to over $4.5 billion, following the launch of the Bitwise Bitcoin ETF (BITB) and the Bitwise Ethereum ETF (ETHW) earlier this year.

These products, which are not covered under the Investment Company Act of 1940, offer an investment solution for investors seeking exposure to digital assets within traditional financial markets.

Bitwise’s BITB was recently listed among the world’s fastest-growing ETPs, crossing the $2 billion mark in a short period. Similarly, ETHW also saw its assets under management cross $300 million within weeks of its launch.

These milestones highlight Bitwise’s capability in designing and executing products relevant to both new and experienced investors in the digital asset space.