Bitwise Buys European ETP Provider ETC Group

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Crypto asset manager Bitwise has strengthened its global presence by acquiring London-based ETC Group. 

This deal brings nine exchange-traded products (ETPs) under Bitwise’s umbrella, significantly expanding its European operations.

While the financial terms of the acquisition remain undisclosed, the deal adds $1 billion to Bitwise’s assets under management, boosting its total to over $4.5 billion.

ETC Group’s portfolio includes a physical Bitcoin ETP and a staked ether ETP, among other crypto-based products.

Bitwise intends to leverage ETC Group’s established European platform to further its own growth strategies.

It’s worth noting that Europe has been ahead of the US in offering crypto-pegged investment products, with ETPs available for several years.