Bitwise Acquires London-Based ETP Provider ETC Group to Enter Europe

• The financial terms of the acquisition were not disclosed.
• ETC Group offers nine Europe-listed exchange-traded products, including a physical bitcoin product (BTCE) and staked ether ETP (ET32).

Crypto asset manager Bitwise expanded into Europe with the purchase of London-based ETC Group, adding nine exchange-traded products (ETP) in the region to its stable.

Financial terms were not disclosed for the acquisition, which adds ETC Group's $1 billion in assets under management (AUM) to Bitwise's AUM, taking it to above $4.5 billion, according to an announcement on Monday.

ETC Group's Europe-listed ETPs include a physical bitcoin product (BTCE) and staked ether ETP (ET32).

Bitwise, which is among the issuers of spot bitcoin and ether exchange-traded funds (ETFs) in the U.S., says it plans to expand ETC Group's platform in Europe.

Read More: Ether Spot ETFs to Attract $15B of Net Inflows in First 18 Months: Bitwise