Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase
Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europes largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwises assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.
The acquisition includes Europes largest physical Bitcoin ETP, the ET32 Ethereum staking ETP, and the ESOL Solana physical ETP, among others. It expands Bitwises product offerings and global insights for its clients.
Hunter Horsley, CEO of Bitwise, expressed enthusiasm for integrating ETC Groups team, highlighting the alignment with Bitwises mission to help investors navigate the opportunities in the crypto space.
Since its inception in 2017, Bitwise has provided investors access to a diverse range of crypto products supported by independent research and due diligence. Horsley commented that the acquisition of ETC Group marks a significant step in Bitwises journey to broaden its reach and enhance its service offerings for investors in Europe and beyond.
Consequences of ETC Group acquisition
Bitwises acquisition of ETC Group offers several key benefits that enhance its position in the crypto investment landscape. The acquisition increases Bitwises assets under management, thereby strengthening its financial standing and market influence.
Moreover, the acquisition allows Bitwise to leverage ETC Groups expertise and insights in the European market, where ETC Group is well-established with products domiciled in Germany. By integrating ETC Groups team, Bitwise gains valuable human capital that can drive innovation and product development.
As reported by Bloomberg Law, the consolidation within the industry reflects a broader trend where firms seek to strengthen their competitive edge through strategic acquisitions. This move positions Bitwise as a more formidable player in the crypto asset management sector, capable of providing comprehensive and innovative solutions to meet the evolving needs of investors in the digital asset space.
The post Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase appeared first on CryptoSlate.
Read more: https://cryptoslate.com/bitwise-aum-surpasses-4-5-billion-expands-to-europe-with-etc-group-purchase/
Text source: CryptoSlate
