Fun

Bitwise enters European market with acquisition of ETC Group

News Feed - 2024-08-20 01:08:20

Ana Paula Pereira7 hours agoBitwise enters European market with acquisition of ETC GroupThe acquisition adds nine European-listed crypto ETPs to Bitwise’s portfolio and raises its assets under management to over $4.5 billion.1811 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onSan Francisco-based asset manager Bitwise has entered the European markets with the acquisition of crypto investment firm ETC Group. The financial details of the deal were not disclosed by the companies.


According to an Aug. 19 announcement, the London-based firm ETC Group has over $1 billion in assets under management (AUM) with a portfolio of products that includes a physical range of crypto exchange-traded products (ETPs), including Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP) and the MSCI Digital Assets Select 20 (DA20).


In total, the acquisition adds nine European-listed crypto ETPs and raises Bitwise’s assets under management to above $4.5 billion.


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


ETC Group has been launching crypto ETPs since 2020, when it debuted its first products on the Deutsche Börse Xetra with regulatory approval from Germany’s Federal Financial Supervisory Authority, or BaFin. The company is also behind a blockchain equity exchange-traded fund (ETF) that offers investors exposure to blockchain-based companies in Europe.


In the United States, Bitwise is one of the asset managers behind the recently approved spot Bitcoin (BTC) ETFs. In January, the United States Securities and Exchange Commission gave the green light to 11 asset manager applications, including Bitwise’s Bitcoin ETF (BITB). According to the fund’s webpage, it holds nearly $2.27 billion in net assets as of Aug. 19.Bitcoin ETF AUM tracker and history. Source: Bitbo


In July, the company also received approval from regulators to launch a spot Ether (ETH) ETP, the Bitwise Ethereum ETF (ETHW). According to Bitwise, the fund has gathered more than $300 million in assets in its first several weeks.


Crypto ETP adoption is expected to accelerate in the coming years, driven by institutional demand and a maturing regulatory environment for digital assets.


Horsley has previously described the adoption of Bitcoin ETFs by registered investment advisers and multifamily offices in the US as “stealthy but significant.” Over $51 billion in AUM has been accumulated across 11 Bitcoin ETFs since they were launched on Wall Street.


Magazine: How Chinese traders and miners get around China’s crypto ban# Business# Investments# Digital Asset Management# Ethereum ETF# Bitcoin ETF# ETFAdd reaction

News Feed

Helen Partz11 hours agoSingapore to require crypto firms to put user assets into trusts by year-endMAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but n
MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000
Este artículo también está disponible en español. Michael Saylor’s MicroStrategy is back in the news, with its stock trading at a 25-year high. TradingView’s recent d
Angel Drainer reportedly shuts down after devs potentially identified
Christopher Roark1 hour agoAngel Drainer reportedly shuts down after devs potentially identifiedTwo hours after Match Systems claimed to have discovered the identity of Angel Drainer developers, users began complaining t
Tristan Greene4 hours agoScientists warn the ‘quantum revolution’ may stagnate economic growthThere are “traps” lying in wait for innovators at the vanguard of fintech and quantum computing, according to research
Price analysis 7/26: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay6 hours agoPrice analysis 7/26: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBBitcoin’s recovery from the $63,500 level is encouraging, but higher levels may face solid resistance from the bears.204
Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon
Billionaire "Bond King" Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon Billionaire Jeffrey Gundlach, aka the “Bond King,” has predicted that the Fe
Shiba Inu Price To $0.000045? Here Are The Major Support And Resistances To Watch Out For
Este artículo también está disponible en español. Technical analysis shows that Shiba Inu is currently at a critical juncturewhere it could either rebound to new multi-ye
Virgin Galactic Chairman Chamath Palihapitiya Says Bitcoin Has Replaced Gold
Virgin Galactic Chairman Chamath Palihapitiya Says Bitcoin Has Replaced Gold Virgin Galactic’s chairman and CEO of Social Capital, Chamath Palihapitiya, says bitcoin has eff
Helen Partz11 hours agoBitcoin salary: Employees choose crypto paychecks amid economic instabilityVolatility among some fiat currencies has made stablecoins like USDC a more attractive option for payroll, according to HR
Tom Mitchelhill19 minutes agoCypher Protocol freezes smart contract after an estimated $1M exploitA crypto wallet suspected to be tied to the exploit shows it gained over $1 million in SOL and UDSC since the attack.81 To
Brayden Lindrea3 hours agoWinklevoss slams DCG’s Silbert — Not even SBF was ‘capable of such delusion’In an open letter, Cameron Winklevoss slammed DCG’s Barry Silbert for allegedly playing the victim card whil
Qatar Central Bank Studying Digital Banks and CBDCs
Qatar Central Bank Studying Digital Banks and CBDCs Qatar Central Bank is presently examining the possibility of issuing a digital currency as well as digital bank licensing, an of