American crypto asset supervisor Bitwise has expanded to Europe after buying London-based ETC Group.
The San Francisco-based agency—which was behind Bitcoin and Ethereum crypto exchange-traded funds (ETFs) launched this 12 months within the U.S.—introduced the acquisition Monday.
ETC Group, which manages property price $1 billion, provides numerous digital asset exchange-traded merchandise (ETPs) that give European traders publicity to Bitcoin, Ethereum, and Solana.
“This acquisition permits us to serve European traders, to supply purchasers international perception, and to develop the product suite with revolutionary ETPs,” Bitwise CEO Hunter Horsley stated within the announcement.
The scale of the deal was not disclosed. However Bitwise stated Monday that it will now have $4.5 billion in property underneath administration.
“We’re happy with the status we now have constructed during the last six years with advisors, establishments, and traders as a classy asset supervisor in crypto markets, and look ahead to bringing this experience to European traders,” added Horsley.
Bitwise didn’t instantly reply to a request for remark from Decrypt.
Wall Road watchdog the Securities and Alternate Fee (SEC) stated sure in January to Bitwise’s Bitcoin ETF—together with 9 different ETFs.
Then, in Could, the SEC quietly authorised a batch of Ethereum ETFs, together with Bitwise’s Ethereum ETF.
Each merchandise have been standard with traders and have attracted billions of {dollars} in inflows.
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