{"id":16227,"date":"2024-08-19T19:52:51","date_gmt":"2024-08-19T16:52:51","guid":{"rendered":"https:\/\/forklog.com\/en\/bitwise-acquires-london-based-etc-group\/"},"modified":"2024-08-19T19:52:51","modified_gmt":"2024-08-19T16:52:51","slug":"bitwise-acquires-london-based-etc-group","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitwise-acquires-london-based-etc-group\/","title":{"rendered":"Bitwise Acquires London-Based ETC Group"},"content":{"rendered":"<p>Digital asset management firm Bitwise has announced the acquisition of London-based cryptocurrency exchange-traded product (ETP) issuer ETC Group.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re excited to share that Bitwise has acquired ETC Group, the London-based digital asset manager and creator of Europe\u2019s largest physical Bitcoin ETP (BTCE). The acquisition deepens our industry-leading suite of crypto products and brings Bitwise clients access to global\u2026 <a href=\"https:\/\/t.co\/RTSrrokBo3\">pic.twitter.com\/RTSrrokBo3<\/a><\/p>\n<p>\u2014 Bitwise (@BitwiseInvest) <a href=\"https:\/\/twitter.com\/BitwiseInvest\/status\/1825519476856541699?ref_src=twsrc%5Etfw\">August 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis acquisition allows us to serve European investors, [\u2026] and expand our product suite with innovative ETPs,\u201d noted Bitwise CEO Hunter Horsley.<\/p>\n<\/blockquote>\n<p>Upon closing the deal, the firm\u2019s total assets under management will increase by more than $1 billion, surpassing $4.5 billion.<\/p>\n<p>In 2021, ETC Group achieved the listing of three fully-backed ETPs on the Vienna Stock Exchange: ETC Group Physical Ethereum ETC, ETC Group Physical Litecoin ETC, and ETC Group Physical Bitcoin.<\/p>\n<p>During the same period, the issuer launched exchange-traded products based on Litecoin and Ethereum on Deutsche Boerse&#8217;s Xetra electronic trading platform. At the time of writing, ETC Group manages nine crypto funds.<\/p>\n<p>Bitwise is the issuer of <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">one of the spot Bitcoin ETFs approved<\/a> in January.<\/p>\n<p>In August, investment bank Goldman Sachs and trading firm DRW Holdings reported to the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> the addition of cryptocurrency-related exchange-traded funds to their portfolios.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset management firm Bitwise has announced the acquisition of London-based cryptocurrency exchange-traded product (ETP) issuer ETC Group. We\u2019re excited to share that Bitwise has acquired ETC Group, the London-based digital asset manager and creator of Europe\u2019s largest physical Bitcoin ETP (BTCE). The acquisition deepens our industry-leading suite of crypto products and brings Bitwise clients [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,569],"class_list":["post-16227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-etf"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16227"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16226"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}