Bitwise, a big name in US crypto, is making a major move into Europe. They’ve just bought ETC Group, a leading crypto issuer based in London.
Bitwise Expands Its Reach
This deal gives Bitwise control over a whopping $4.5 billion in assets. ETC Group has been a big player in Europe, offering crypto-backed funds for popular coins like Bitcoin, Ethereum, Solana, and XRP. Their flagship product, a $700 million Bitcoin fund, is the biggest in Europe.
Bitwise is already a big deal in the US. They launched their first Bitcoin ETF earlier this year, which has already attracted over $2 billion. They also recently launched an Ethereum ETF, which quickly gained over $300 million.
Bitwise Aims for Global Domination
Bitwise’s CEO, Hunter Horsley, is excited about the acquisition. He sees it as a chance to reach more European investors and offer them global expertise. He also plans to expand their product line with new crypto funds.
Horsley says Bitwise is committed to bringing their expertise to Europe. They’re confident they can help European investors, institutions, and advisors navigate the world of crypto.
What Does This Mean for Crypto?
This deal shows how big crypto is becoming. Big players like Bitwise are expanding their reach, and it’s likely we’ll see more acquisitions and partnerships in the future.
It remains to be seen how this will impact the crypto market, but it’s definitely a sign of things to come.
