Bitwise Acquires ETC Group, an Issuer of Cryptocurrency Exchange-Traded Products (ETPs) Based in London

The move brings Bitwise's total assets under management to over $4.5 billion, adds nine European-listed digital asset ETPs into Bitwise's product offerings and bolsters Bitwise's expansion into Europe.

Digital asset manager Bitwise has acquired ETC Group, a London-based issuer of cryptocurrency exchange-traded products (ETPs).

The move brings Bitwise's total assets under management to over $4.5 billion, adds nine European-listed digital asset ETPs to Bitwise's product offerings and bolsters Bitwise's expansion into Europe.

"This acquisition allows us to serve European investors, to offer clients global insight and to expand the product suite with innovative ETPs," said Bitwise CEO Hunter Horsley in a statement.

Bitwise is the issuer of the spot bitcoin exchange-traded fund BITB, which brought in $54.07 million in trading volume on its most recent day of trading, according to The Block's Data Dashboard. BITB holds 3.74% of the spot Bitcoin ETF market share volume.

RELATED INDICES

Bitwise's spot ether ETF, ETHW, started trading in July this year. The fund traded at $18.83 per share as of 9:35 a.m. ET (13:35 UTC), according to The Block Prices. The fund had $4.12 million in daily trading volume as of Aug. 16.

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