Bitwise Asset Management Expands into Europe with Acquisition of ETC Group

​Bitwise Asset Management has expanded its footprint into the European market through the acquisition of ETC Group, a prominent London-based issuer of crypto exchange-traded products (ETPs), according to an official announcement on Monday (Aug 19).

This move significantly broadens Bitwise's portfolio, which now includes nine European-listed crypto ETPs, enhancing its suite of financial solutions that also includes hedge funds and separately managed accounts. The acquisition will see all ETC Group products rebranded under the Bitwise name, although the firm has assured clients that there will be no immediate changes to the investment strategies or objectives of the existing ETC products.

Hunter Horsley, CEO of Bitwise, commented on the acquisition, stating "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." 

He also made it clear that the he believed the acquisition will allow Bitwise to provide European investors with global insights and expand its product offerings with innovative ETPs.

Bradley Duke, co-founder of ETC Group, also voiced support for the merger, noting, "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." 

Duke emphasized the cultural and value alignment between the two firms and expressed excitement about continuing their work in Europe as part of Bitwise.