{"id":90303,"date":"2024-08-19T11:30:51","date_gmt":"2024-08-19T15:30:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=90303"},"modified":"2024-08-19T11:31:32","modified_gmt":"2024-08-19T15:31:32","slug":"bitwise-to-acquire-etc-group-to-broaden-etf","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitwise-to-acquire-etc-group-to-broaden-etf\/","title":{"rendered":"Bitwise To Acquire ETC Group To Broaden ETF Presence"},"content":{"rendered":"\n

The ETF market<\/a> is becoming a significant hotbed for crypto-focused organizations like Bitwise as it designs the buyup\u00a0of ETC Group.<\/p>\n\n\n\n

\"Bitwise<\/figure>\n\n\n\n

Bitwise, an investment asset management firm, is advancing its ETF journey with a new acquisition. <\/p>\n\n\n\n

The firm recently announced its plan to acquire London-based digital-assets issuer ETC Group, although the terms of the deal remain undisclosed.<\/p>\n\n\n\n

Bitwise to Manage $4.5 Billion in Assets Under Management (AUM)<\/h2>\n\n\n\n

According to Bloomberg\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Bitwise will manage up to $4.5 billion in AUM once the acquisition is finalised, including ETC Group\u2019s $1.1 billion in assets. <\/p>\n\n\n\n

ETC Group is known for offering premium products, such as a physically-backed Bitcoin fund.<\/p>\n\n\n\n

Acquisitions like this are common in the financial sector, especially when the acquired company faces challenges and seeks a more stable environment. <\/p>\n\n\n\n

Often, these deals allow the acquiring firm to expand internationally without creating new products from scratch.<\/p>\n\n\n\n

Earlier this year, U.S.-based Valkyrie sold its ETF business to CoinShares, a move aimed at strengthening CoinShares' presence in the U.S. digital asset market. <\/p>\n\n\n\n

Similarly, last year saw TCW Group acquire an ETF business from activist investor Engine No. 1, and ARK Investment Management, led by Cathie Wood, purchase Rize ETF Limited, another ETF issuer.<\/p>\n\n\n\n

Expanding Horizons with Crypto ETFs<\/h2>\n\n\n\n

Bitwise is currently thriving in the digital asset sector and is looking to broaden its reach further. <\/p>\n\n\n\n

Alongside major players like BlackRock<\/a>, Grayscale, and Fidelity, Bitwise launched a spot Bitcoin ETF in January and an Ethereum ETF in June. <\/p>\n\n\n\n

Additionally, in early August, a $40 billion institutional consultant selected Bitwise for its Bitcoin investments.<\/p>\n\n\n\n

This success reflects the growing interest in crypto products among institutional investors. <\/p>\n\n\n\n

Given this positive trajectory, Bitwise is exploring the possibility of offering more crypto ETFs.<\/p>\n\n\n\n

Last month, Bitwise\u2019s CIO, Matt Hougan, remarked, \u201cLong term, as we look into 2025, we\u2019ve entered the ETF era of crypto. We\u2019re going to see ETFs on multiple crypto assets; we\u2019re going to see index-based ETFs.\u201d<\/p>\n\n\n\n

In its ongoing effort to expand its offerings, Bitwise has also submitted a filing with the U.S. Securities and Exchange Commission (SEC) to list Options products on its spot Ethereum ETF<\/a>. <\/p>\n\n\n\n

Grayscale has made a similar move, indicating a growing demand from investors for more diverse ETF options.<\/p>\n","protected":false},"excerpt":{"rendered":"

The ETF market is becoming a significant hotbed for crypto-focused organizations like Bitwise as it designs the buyup\u00a0of ETC Group. Bitwise, an investment asset management firm, is advancing its ETF journey with a new acquisition. The firm recently announced its plan to acquire London-based digital-assets issuer ETC Group, although the terms of the deal remain […]<\/p>\n","protected":false},"author":56,"featured_media":90306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17080,8615],"class_list":["post-90303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitwise-2","tag-spot-bitcoin-etf-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/Bitwise-To-Acquire-ETC-Group-To-Broaden-ETF-Presence.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=90303"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/90306"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=90303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=90303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=90303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}