Bitwise is expanding to Europe with the takeover of the ETC Group

• BitWise takes over the ETC Group and expands with a managed crypto account of $ 4.5 billion to Europe.
• The products of the ETC Group are renamed BitWise, but there will be no strategy changes.
• BitWise expects a change in the crypto area with the introduction of Spot-Bitcoin ETFs.

In a strategic step to expand his global presence, Bitwise, the largest crypto index fund manager in the United States, who took over in London, has an important issuer of crypto-exchange-traded products (ETPS).

This takeover announced on August 19, 2024 marks the significant expansion of BitWise on the European market. It extends the company's portfolio by more than $ 1 billion in managed assets (AUM) and increases the entire AUM of the company to over $ 4.5 billion.

Takeover of the ETC Group provides Bitwise in Europe

The ETC Group, founded in 2019, has established itself as an important player on the European cryptom market and offers a number of ETPs, including those based on Bitcoin, Ethereum, Solana and Ripple. These products will be renamed Bitwise in the coming months, although the company has assured that there will be no significant changes to the construction or the goals of the existing ETC investment strategies.

BITWISE sees this expansion as a crucial moment in its growth strategy, especially since the introduction of spot bitcoin ETFs expects a dramatic change in cryptol landscape. According to the CEO of Bitwise, Hunter Horsley, the takeover enables the company to “operate European investors, offer customers global insights and to expand the product range to expand innovative ETPs.”

The advance from Bitwise to Europe takes place immediately after the introduction of several successful products in the USA, including the Bitwise Bitcoin ETF and the Bitwise Ethereum ETF, which have put together an investment assets of over $ 2 billion at the beginning of the year.

The takeover is also in accordance with the prediction of Bitwise that there will be a strong increase in institutional investments in crypto ETFs, since large financial institutions are increasingly offering their customers.

By integrating the ETC Group into its company, Bitwise is now able to benefit from the increasing demand for digital assets on both sides of the Atlantic and thus to further consolidate its position as a leading force in the field of crypto investments.