Bitwise Acquires ETC Group: Expanding ETF Operations

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Bitwise's New Acquisition
  2. Strategic Acquisition
  3. Growth in Digital Assets


    4. This week, Bitwise, an investment asset manager, announced a significant acquisition that would elevate its ETF operations. The company will acquire London-based digital assets issuer ETC Group.

    Bitwise's New Acquisition

    According to Bloomberg, Bitwise will be tasked with managing up to $4.5 billion in AUM upon completion. This sum includes the $1.1 billion AUM already managed by ETC Group.

    Strategic Acquisition

    In the financial industry, such acquisitions are common, particularly when the target company is experiencing difficulties and seeks a more stable environment. Rather than creating a new product from scratch, companies often use acquisitions for international expansion.

    Growth in Digital Assets

    Bitwise is actively growing in the digital asset space and plans further expansion. The investment firm launched its spot Bitcoin ETF in January and its Ethereum ETF in June, joining companies like BlackRock, Grayscale, and Fidelity.

    Last week, the company's first Bitcoin ETF was selected by a $40 billion institutional consultant.

    The acquisition of ETC Group will allow Bitwise to strengthen its position in the digital asset market and manage significant volumes of assets, facilitating the company's further growth.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.