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

DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions
DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions The Department of Justice (DOJ) has filed its first criminal complaint again
Arijit Sarkar47 minutes agoBitcoin Lightning on Coinbase agenda, Brian Armstrong tells Jack DorseyArmstrong confirmed that Coinbase was looking into adding support for the Bitcoin Lightning Network and reassured its supp
Bitcoin, Ethereum Technical Analysis: ETH Above $1,600 as Markets Begin to Anticipate Fed Rate Decision
Bitcoin, Ethereum Technical Analysis: ETH Above $1,600 as Markets Begin to Anticipate Fed Rate Decision Ethereum was trading above $1,600 on Monday, as markets prepared for the lat
Brayden Lindrea48 minutes agoFrom walls to wallets: Barcelona graffiti artists share their love for BitcoinNine months after launching, the Street Cy₿er artist collective has over 100 street artists, musicians and Bitc
The Central Bank of Colombia Is Studying the Creation of a Digital Currency
The Central Bank of Colombia Is Studying the Creation of a Digital Currency The Central Bank of Colombia is studying the launch of a digital currency, according to statements made
Bitcoin post-halving price consolidation could last 2 months — Bitfinex
Gareth Jenkinson13 hours agoBitcoin post-halving price consolidation could last 2 months — BitfinexThe Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but ana
Gareth Jenkinson1 hour agoVitalik wallet sends 400 ETH worth $600K to CoinbaseA wallet associated with Ethereum co-founder Vitalik Buterin was flagged sending 400 ETH, worth around $600,000, to Coinbase.794 Total views4
Biggest Movers: LUNC 13% Higher, as US CPI Boosts Crypto Markets
Biggest Movers: LUNC 13% Higher, as US CPI Boosts Crypto Markets Terra classic has been one of Thursday’s biggest gainers, as crypto markets found light in the form of the latest
Indian Prime Minister Modi Chairs Crypto Meeting After Consulting With RBI, Finance Ministry
Indian Prime Minister Modi Chairs Crypto Meeting After Consulting With RBI, Finance Ministry Indian Prime Minister Narendra Modi has reportedly chaired a comprehensive meeting on c
William Suberg5 hours agoBitcoin traders eye Fed’s Powell as FOMC hikes rates to 22-year highsBTC"s price has yet to see real volatility kick in as the Fed hikes rates with Chair Powell yet to speak.2252 Total views8 T
Ana Paula Pereira9 hours agoBitget and crypto influencer embroiled in legal saga after Reel Star token listing fiascoEvan Luthra says Bitget froze his account in April. The exchange claims it was done on suspicions of ma
Bitcoin Outflows Signal Bullish Strength As Demand Remains High At $100K – What This Means
Este artículo también está disponible en español. Bitcoin (BTC) has seen an impressive 8% surge since Monday, solidifying $100K as a strong support level. After weeks of