As a seasoned researcher and investor who has closely followed the crypto space for years, I find this latest move by Bitwise Asset Management to acquire ETC Group intriguing. Having witnessed the rapid growth of Bitcoin and other cryptocurrencies, it’s exciting to see established players expanding their reach into new markets like Europe.
As a crypto investor, I’m excited about the recent news that Bitwise Asset Management, a pioneer in managing cryptocurrency index funds, has acquired ETC Group – one of the biggest players in the field of crypto Exchange-Traded Products (ETPs). This move suggests a consolidation of forces within the crypto space, potentially leading to more robust and diversified investment opportunities.
As a researcher, I’m excited to share that Bitwise is expanding its reach by venturing into the dynamic European market. In the ensuing days, you’ll notice that ETC Group’s European-listed products will bear the new brand name of their recent acquirer.
According to Hunter Horsley, the CEO of Bitwise, they eagerly anticipate sharing their skills with Europe.
Back in 2019, ETC Group was established to offer investors a chance to explore the emerging cryptocurrency market, just as they can invest in stocks (equities) or commodities through other ETCs (Exchange Traded Commodities).
2020 saw the company reach a notable achievement as they successfully listed their Bitcoin Exchange-Traded Product (ETP) on the German Stock Exchange, known as Deutsche Börse.
2021 saw the listing of Exchange-Traded Products (ETPs) that represented these digital currencies: Cardano, Polkadot, Tezos, and Stellar.
In July 2022, their Bitcoin Exchange-Traded Product (ETP) went live on the multi-national derivatives exchange platform Cboe Europe. Additionally, in the same year, ETC Group introduced Europe’s pioneering Metaverse Exchange-Traded Product (ETP).
As of 2024, ETC Group boasts more than $1 billion in assets under management across nine ETPs.
After the acquisition, Bitwise assures us that there will be no immediate alterations to the current investment tactics they’ve been using.
As a seasoned crypto investor with years of experience navigating the volatile and ever-evolving digital asset market, I have been closely following the latest developments in the Bitcoin ETF space. Earlier this year, I was particularly intrigued by Bitwise’s entry into the race to launch a Bitcoin ETF in the US, joining forces with industry giants like BlackRock and Fidelity.
Based on their recent purchase, Bitwise’s Assets Under Management (AUM) now totals $4.5 billion, as stated in their official announcement.
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2024-08-19 19:05