Bitwise Acquires ETC Group, Manages 55,000 Bitcoin, Becomes Fifth-Largest Bitcoin ETP Provider

Aug 19, 2024, 01:35 PM

Bitwise Asset Management, a prominent crypto exchange-traded fund provider, has announced the acquisition of ETC Group, a digital asset issuer based in London. ETC Group is known for managing Europe's largest physical Bitcoin exchange-traded product (ETP), BTCE, and the ET32 Ethereum ETP. This acquisition marks Bitwise's expansion into the European market, enhancing its suite of crypto products and providing its clients access to global markets. The combined entity will manage approximately 55,000 Bitcoin, positioning it as the fifth-largest Bitcoin ETP provider globally. The deal also increases Bitwise's assets under management to over $4.5 billion.