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

NOX FUND's Referral System Offers Significant Passive Income

NOX FUND features a robust referral system that allows users to earn up to 20% in total commissions across a 7-level downline.

user avatarMiguel Rodriguez

NOX FUND Smart Contract Offers Guaranteed Daily Returns

A revolutionary smart contract called NOX FUND has just launched on BNB Smart Chain, providing users with guaranteed 15% daily returns on USDT deposits.

user avatarMaria Fernandez

NGRAVE Reports Major Crypto Phishing Attack

NGRAVE reports a significant phishing attack targeting LIQUID app users, resulting in the theft of at least $256 million.

user avatarMaria Gutierrez

Zcash NU7 Upgrade Scheduled for Early November

The Zcash NU7 upgrade is set to activate on November 5, aiming to reduce block time from 75 seconds to 25 seconds.

user avatarGustavo Mendoza

Exchange Tokens Are Being Redesigned to Focus on User Retention

Exchange tokens are undergoing significant redesigns aimed at improving user retention rather than just attracting initial attention.

user avatarRajesh Kumar

PancakeSwap Proposes Changes to Liquidity Provider Fees and CAKE Emissions

PancakeSwap has opened voting on a proposal to increase liquidity providers' share of trading fees to 88% while reducing daily CAKE emissions to 7,000.

user avatarLuis Flores

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.