# Crypto Fund Manager on the Rise: Bitwise Acquires ETC Group and Expands into Europe

**Published by:** [Finixyta](https://paragraph.com/@finixyta-3/)
**Published on:** 2024-08-20
**URL:** https://paragraph.com/@finixyta-3/crypto-fund-manager-on-the-rise-bitwise-acquires-etc-group-and-expands-into-europe

## Content

Crypto Fund Manager on the Rise: Bitwise Acquires ETC Group and Expands into EuropeBitwise Asset Management has announced its acquisition of the ETC Group, the London-based issuer of the largest physically-backed Bitcoin ETP (BTCE) in Europe. This strategic move allows Bitwise to expand its operations across the Atlantic and strengthen its foothold in the European market.Bitwise's Expansion and New OfferingsBy acquiring the ETC Group, Bitwise adds nine European-listed crypto ETPs to its diverse range of crypto investment products. The ETC Group’s offerings include the largest and most traded physically-backed Bitcoin ETP (BTCE), as well as other products like Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and the MSCI Digital Assets Select 20 (DA20) ETPs. An ETP, or Exchange-Traded Product, is a general term for investment products that are traded on exchanges like stocks, including the well-known ETFs (Exchange-Traded Funds). The ETC Group's ETPs will continue to be physically backed, with only the product names being rebranded under the Bitwise label.Growth and Market ImpactWith this acquisition, Bitwise's assets under management have surged to an impressive $4.5 billion. Earlier in 2024, Bitwise aggressively expanded its crypto ETP offerings in the U.S. and is now setting its sights on the European market. Matt Hougan, CEO of Bitwise, remains extremely bullish on Bitcoin’s value prospects, as he indicated in a recent report by BTC-ECHO. Bitwise plans to strategically enhance the ETC Group’s offerings in Europe, aiming to further solidify its position as a global crypto asset manager. For more Content check out our Blog: https://finixyta.com/crypto-craze-in-turkey-a-golden-opportunity-or-fools-gold/

## Publication Information

- [Finixyta](https://paragraph.com/@finixyta-3/): Publication homepage
- [All Posts](https://paragraph.com/@finixyta-3/): More posts from this publication
- [RSS Feed](https://api.paragraph.com/blogs/rss/@finixyta-3): Subscribe to updates