Bitwise Asset Management has expanded into Europe with the acquisition of ETC Group, a London-based crypto ETP issuer with over $1bn in AUM, adding nine European-listed crypto ETPs to its suite of ETPs, hedge fund solutions and separately managed accounts.
Founded in 2019, ETC Group’s ETP suite includes a bitcoin, ethereum with staking, solana, XRP and MSCI Digital Assets Select 20 ETPs. All of the products are physically backed and will be renamed with the Bitwise brand in the coming months. No material changes to the construction or objectives of the existing ETC investment strategies are planned at this time.
The acquisition brings Bitwise’s total AUM above $4.5bn.
In January, the company launched its first spot bitcoin ETP, the Bitwise Bitcoin ETF, which became one of the 25 fastest-growing ETPs of all time on its way to over $2bn in assets today. In July, Bitwise launched its first spot ether ETP, the Bitwise Ethereum ETF, which has since gathered more than $300m in assets.
In addition to the new ETPs launched this year, Bitwise’s 20 products in the US market includes the largest crypto index fund in the world, a thematic equity ETF, multi-strategy alpha solutions, separately managed accounts and private funds. Bitwise plans to expand the existing ETC Group platform in Europe.
