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.

The cryptocurrency market is facing significant challenges following July's volatility. Ethereum Classic price has not been immune to these headwinds, dropping 5.4% over the past week and an additional 2% in the last day to trade at $21.34 during US business hours on Tuesday.

The CoinDesk 20 gains 1.2% overnight with BCH up 3.0% and ETC up 2.5%.

Thinking about Ethereum Classic (ETC)? Could its price reach $50 soon?

The much-awaited launch of the spot Ethereum ETF is just a few moments away from now. While the broader market condition is pretty shaky due to the Mt. Gox fear, Ethereum & ETH-based tokens have been displaying significant strength.

The first-ever Ethereum (CRYPTO: ETH) spot ETFs have been greenlighted by the SEC and are set to begin trading tomorrow morning. Interestingly, two relatively lesser-known Ethereum-branded coins seem to have outperformed the marquee asset in 24-hour gains.

Low- and mid-cap altcoins gain traction as the cryptocurrency market prepares for a historic rebound to record peaks. Bitcoin flourished over the past seven days, climbing from a weekly low of below $62K to trade at $67,200 during this publication.

ETC bears marked another victory in July by forcing a price drop below the $22.9 support.

Market bears seem to have the upper hand in ETC's market. Will that change though?

Crypto hedge funds' bitcoin market exposure has dropped to levels not seen since October 2020, according to an analyst report from ETC Group.

In the ever-volatile landscape of the cryptocurrency market, Ethereum Classic (ETC) stands as a resilient contender, weathering the storm of uncertainty with a steadfast demeanor. However, beneath the surface of apparent stability, a nuanced analysis reveals a tapestry of conflicting signals and potential shifts in market sentiment.

The Directional Movement Index saw the -DI jump above the 20 mark. What is this a sign of?

Since the strong breakout past $29 on 20 May, Ethereum Classic's bullish momentum has slowed down.

Ethereum Classic turns bullish post ETH ETFs approval, and the trend might continue further.

Ethereum Classic (ETC) expanded to $33.13, growing by nearly 22% in a week. Since it is considered undervalued, ETC has a pattern of following Ethereum (ETH) rallies.

The cryptocurrency market has recorded a negative price action despite approval of the spot Ethereum ETF by the SEC. following this, top Ethereum-based altcoins have displayed a similar trend by experiencing a significant correction in their respective portfolios.

On a day when the first-ever Ethereum (CRYPTO: ETH) spot ETFs have been approved in the U.S., Ethereum Classic (CRYPTO: ETC) seems to be stealing the spotlight from its sister chain. What Happened: Ethereum Classic racked up gains of nearly 9% in the last 24 hours, according to data from Benzinga Pro, positioning itself as the marker's second-best performer.

Meme cryptocurrency Pepe (PEPE) has managed to surpass Ethereum Classic (ETC) by market capitalization, according to data provided by CoinGecko.

Forbes analysts have expressed concerns around ADA, ETC, and XRP, suggesting that they are "zombie" tokens.

Forbes listed 20 zombie coins, calling them good-for-nothing blockchains — They are unproven and have little utility other than speculative crypto trading. Among these are XRP, ADA, BCH, LTC, ICP, ETC, XLM, STX, KAS, THETA, FTM, XMR, AR, ALGO, FLOW, EGLD, BSV, MINA, XTZ, EOS. Despite high valuations, these tokens face questions about real-world adoption.

Unless sentiment shifts bullishly in the near term, ETC traders should be prepared for a price move downward.

Ethereum Classic has created history with its mind blowing hold over the world. The financial system was revolutionized when Ethereum Classic started climbing the ladder.

The crypto industry has displayed a strong bullish trend after trading under a bearish influence for a period. Moreover, the ETC price has recorded a jump of approximately 13% in valuation within the past 24 hours, following which it faced correction in the chart.

DWS, the asset manager, introduced a new Xtrackers Exchange-Traded Commodities (ETC) following a partnership with Galaxy Digital Holdings Ltd. This joint effort provides German investors with a simple way to obtain Bitcoin exposure.

Ravencoin is trading near above $0.033, a two-week high last seen on March 12 when the altcoin soared alongside Bitcoin (BTC). With over 14% gains in the past 24 hours and 34% this past week, Ravencoin price is outperforming most of the top 10 altcoins by market cap.