Bitwise broadens its international footprint with ETC Group buyout
Bitwise Asset Management has taken a significant step towards expanding its international footprint by acquiring the London-based ETC Group, which is known for issuing Europe’s largest physical Bitcoin ETP (BTCE). This strategic purchase not only bolsters Bitwise’s standing in the global cryptocurrency market but also incorporates over a billion in assets under management into their portfolio.
As part of this acquisition, Bitwise intends to rebrand ETC Group’s current range of ETPs under the Bitwise label. This rebranding venture is slated to occur in the upcoming months, aimed at synchronizing ETC Group’s offerings with Bitwise’s global brand image. Even with the rebranding, the fundamental investment strategies of these ETPs will remain intact, ensuring continuity for existing investors while also appealing to new ones.
Hunter Horsley, the CEO of Bitwise, underscored the significance of this acquisition in establishing a global crypto asset management entity that serves investors and financial advisors looking for a specialized ally in the fast-paced digital asset environment. Horsley expressed, “This acquisition enables us to cater to European investors, provides clients with global insights, and enhances our product offerings with innovative ETPs.”
Rebranding efforts and growth ambitions
Bitwise’s foray into Europe through acquiring ETC Group is not merely a rebranding exercise; it also signals plans for future growth. The company harbors ambitious goals to roll out new and innovative ETPs in the European market, utilizing its experience from the U.S. market to deliver products tailored to European investors’ needs. This includes the potential introduction of new ETPs that may encompass a wider array of cryptocurrencies, in addition to offerings that provide insights into emerging trends in the digital asset realm.
For investors in Australia, this expansion may herald new opportunities to tap into a broader selection of crypto investment products via Bitwise’s global platform. As the firm expands its footprint in Europe, it is likely that Australian investors will benefit from enhanced liquidity and product variety that accompany a more extensive global network. Bitwise’s dedication to preserving the integrity of ETC Group’s existing offerings while also innovating with new products could position it as an appealing choice for those aiming to diversify their crypto holdings.
Through this initiative, Bitwise is poised to elevate its standing as a sophisticated asset manager in the cryptocurrency markets, a reputation it has diligently nurtured over the past six years. The acquisition of ETC Group marks a pivotal moment in Bitwise’s strategy to extend its expertise to a wider audience, including European investors who are increasingly on the lookout for dependable and innovative crypto investment solutions.
Source: bitcoinmagazine.com
