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It's not been a good few months for ETC holders and investors.

The global cryptocurrency market cap increased by 1.12% over the past day to $2.1 trillion as bulls attempted recoveries following the latest crash. Bitcoin (BTC) trades at $59,669 after gaining 0.80% in the past 24 hours, triggering notable recoveries in the altcoin space. Ethereum Classic (ETC) joined the ongoing broad market surges.

Bitwise Asset Management announced its acquisition of the ETC group, a cryptocurrency exchange-traded products issuer based in London. The acquisition reportedly pushes Bitwise's assets under management to over $4.5 billion.

Bitwise is elevating its ETF strategy with a new acquisition. The firm has announced plans to acquire ETC Group, a London-based digital asset issuer.

The crypto context of the acquisition of ETC Group by Bitwise

In a strategic move to expand its presence in Europe and the broader crypto industry, asset manager and Bitcoin exchange-traded fund (ETF) issuer Bitwise Investment has sealed a deal to acquire ETC Group, a major crypto issuer headquartered in London.

Crypto isn't mentioned in Democrats' party platform before the start of the convention, Bitwise acquires crypto ETP issuer ETC Group and more from today.

Meanwhile, the details of the purchase agreement are still unknown. Bitwise will be tasked with managing up to $4.5 billion in AUM once completion.

Bitwise Asset Management has taken a bold step into the European market by acquiring ETC Group, a London-based provider of cryptocurrency exchange-traded products (ETPs). This strategic move increases Bitwise's assets under management to over $4.5 billion, adding nine European-listed crypto ETPs to its expanding portfolio.

The asset manager behind two successful U.S. crypto ETFs just landed in London.

TL;DR Bitwise Asset Management acquires ETC Group, marking its entry into the European market and adding several crypto ETPs to its portfolio. ETC Group, known for its physical Bitcoin ETP (BTCE) and other crypto products, will be rebranded but without significant changes to its strategies.

The acquisition adds nine European-listed crypto ETPs to Bitwise's portfolio and raises its assets under management to over $4.5 billion.

Bitwise Asset Management, the leading cryptocurrency index fund manager, has announced the acquisition of ETC Group, one of the largest crypto ETP firms.

San Francisco-based cryptocurrency index fund manager Bitwise Asset Management has acquired London-based competitor ETC Group, signalling its expansion into the European markets. ETC Group, with over $1 billion in assets under management, owns BTCE, currently the largest physical bitcoin exchange-traded products (ETP) in Europe.

Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europe's largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwise's assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.

Bitwise Asset Management's acquisition of ETC Group marks its significant entry into the European market, adding over $1 billion in Bitcoin and crypto assets.

Investment asset management firm Bitwise is taking its ETF journey to a higher level with its latest acquisition. The week started with the firm announcing its intention to acquire ETC Group, a digital-assets issuer based in London.

On 19 August 2024, Bitwise Asset Management announced its acquisition of ETC Group, a significant move that marks the expansion of Bitwise's presence in the European market. Founded in 2019, ETC Group has developed a robust suite of exchange-traded products (ETPs) that have gained substantial traction in the cryptocurrency space.

Bitwise's acquisition of ETC Group signifies a major step in globalizing crypto asset management, enhancing product diversity and market reach. The post Bitwise expands to Europe with strategic acquisition of ETC Group appeared first on Crypto Briefing.

San Francisco-based cryptocurrency index fund manager Bitcoin Asset Management has acquired London-based competitor ETC Group, signalling Bitwise's expansion into the European markets. ETC Group, with over $1 billion in assets under management, owns BTCE, currently the largest physical bitcoin exchange-traded product (ETP) in Europe.

The acquisition of ETC Group's $1 billion in assets under management takes Bitwise's AUM above $4.5 billion.

The move brings Bitwise's total assets under management to $4.5 billion and adds nine European crypto ETPs to its product offerings.

With this acquisition, Bitwise's total assets under management rise above $4.5 billion.

Ethereum Classic price has surged recently following a broader market recovery. This rise in ETC price indicates renewed investor confidence in the market, aligning with the positive momentum seen in other major digital assets.