Bitwise makes European play with ETC Group acquisition

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The deal adds nine European-listed crypto ETPs, including Europe’s largest physically backed Bitcoin fund, and over $1 billion in assets under management to Bitwise’s suite.

The acquisition brings Bitwise’s total assets under management above $4.5 billion and comes in a busy year for the firm, which was one of 10 firms to get the green light to launch a Bitcoin ETF in the US.

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

Bitwise’s foray into Europe comes months after another major US player, Robinhood, agreed a $200 million cash deal to buy UK-based crypto exchange Bitstamp.