Bitwise Enters European Market with Acquisition of ETC Group, Issuer of Europe’s Largest Physical Bitcoin ETP (BTCE)

Bitwise has acquired ETC Group, a London-based crypto ETP issuer with over $1 billion in assets under management, marking its expansion into Europe. This acquisition adds nine European-listed crypto ETPs to Bitwise’s extensive portfolio, which includes ETPs, hedge fund solutions, and separately managed accounts.

Founded in 2019, ETC Group offers a range of physically backed ETPs, including the most heavily traded physical Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and the MSCI Digital Assets Select 20 (DA20). Over the coming months, all ETC Group products will be rebranded under the Bitwise name.

Hunter Horsley, CEO of Bitwise, stated, “This acquisition allows us to serve European investors, provide global insight, and expand our product suite with innovative ETPs. We’ve built a strong reputation over the past six years as a sophisticated asset manager in crypto markets, and we’re excited to bring this expertise to European investors.”

Bradley Duke, co-founder of ETC Group, added, “Bitwise has proven their professionalism and leadership in this new asset class. We’re thrilled to continue our work in Europe as part of Bitwise.”

With this acquisition, Bitwise’s assets under management exceed $4.5 billion. This milestone follows a landmark year for the company, which saw the launch of the Bitwise Bitcoin ETF (BITB) and the Bitwise Ethereum ETF (ETHW), both of which have rapidly gained assets.

Bitwise plans to strategically expand the ETC Group platform in Europe while continuing to offer a diverse range of products in the U.S. market, including the world’s largest crypto index fund, thematic equity ETFs, multi-strategy alpha solutions, separately managed accounts, and private funds.