Bitwise Asset Management today announced the acquisition of ETC Group, a London-based crypto ETP issuer.
The news marks Bitwise’s expansion into Europe and adds nine European-listed crypto ETPs to Bitwise’s broad suite of ETPs, hedge fund solutions, and separately managed accounts.
All of ETC Group’s products 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.
“Bitwise is building a global crypto asset manager for investors and financial advisors who want a best-in-class partner specialized in this fast-growing asset class,” said Hunter Horsley, Bitwise’s CEO. “This acquisition allows us to serve European investors, to offer clients global insight, and to expand the product suite with innovative ETPs. We’re proud of the reputation we have built over the last six years with advisors, institutions, and investors as a sophisticated asset manager in crypto markets, and look forward to bringing this expertise to European investors.”
“We think Bitwise is building the best-of-breed firm for this new asset class and have proven their professionalism and leadership over many years,” said ETC Group co-founder Bradley Duke. “For an asset management firm, culture and values are essential, and we couldn’t be more excited to continue our work in Europe as part of Bitwise.”
