Bitwise Acquires London-Based ETP Provider ETC Group to Enter Europe
-
The financial terms of the acquisition were not disclosed.
-
ETC Group offers nine Europe-listed exchange-traded products, including a physical bitcoin product (BTCE) and staked ether ETP (ET32).
00:54
Ethereum Sees Record Drop in Gas Fees: Is This a Bullish Signal for ETH?
22:04
Bitcoin Millionaire on Investment Tips, Anonymity and Crypto’s Role in Politics
00:58
Why This Investor Is Bullish on Monero
02:04
Sen. Schumer Says U.S. Crypto Bill Can Happen This Year; ZynCoin’s New Physical Collectible
Crypto asset manager Bitwise expanded into Europe with the purchase of London-based ETC Group, adding nine exchange-traded products (ETP) in the region to its stable.
Financial terms were not disclosed for the acquisition, which adds ETC Group’s $1 billion in assets under management (AUM) to Bitwise’s AUM, taking it to above $4.5 billion, according to an announcement on Monday.
ETC Group’s Europe-listed ETPs include a physical bitcoin product (BTCE) and staked ether ETP (ET32).
Bitwise, which is among the issuers of spot bitcoin and ether exchange-traded funds (ETFs) in the U.S., says it plans to expand ETC Group’s platform in Europe.
Edited by Sheldon Reback.
Disclosure
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
CoinDesk is an
award-winning
media outlet that covers the cryptocurrency industry. Its journalists abide by a
strict set of editorial policies.
In November 2023
, CoinDesk was acquired
by the Bullish group, owner of
Bullish,
a regulated, digital assets exchange. The Bullish group is majority-owned by
Block.one; both companies have
interests
in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/008ae87f-5c6e-412b-816b-ded600ac5054.png)
