Cryptocurrency

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-acquires-etc-group-to-expand-in-europe/" data-wpel-link="internal">Bitwise Acquires ETC Group to Expand in Europe</a> 
Cryptocurrency has increasingly attracted traditional finance, and this interest is growing. ETF issuances, new products and services, and acquisitions of existing crypto companies by major brands are ways to rapidly expand the crypto business. Bitwise’s latest move is a testament to this trend. 
<h2 style="text-align: justify" id="crypto-company-acquired">Crypto Company Acquired</h2> 
Recently, we learned that Robinhood acquired the cryptocurrency exchange Bitstamp for $200 million. Although the process will be completed next year, US-based Robinhood has taken a significant step to grow its crypto business. Now, Bitwise Asset Management has acquired London-based ETC Group within three months. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-381109 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/Bitwise.png" alt="" width="574" height="298"> 
Bitwise took this step to expand into the European economic area and is already among the crypto ETF issuers. Bitwise, one of the companies that launched the first BTC and ETH ETFs in the US, has seen nearly $2 billion in inflows through its BTC ETF channel. The company’s CEO wrote the following about the recent investment: 
<blockquote> 
 “This acquisition allows us to serve European <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, provide global insights to our clients, and expand our product suite with innovative ETPs.” 
</blockquote> 
With this latest move, the assets under the company’s management will climb to approximately $4.5 billion. 
<h2 style="text-align: justify" id="etc-and-europe">ETC and Europe</h2> 
ETC Group’s products and employees will remain in place following this sale. The company has nine crypto exchange-traded products in Germany. The total size of these products is $1.1 billion, with $950 million coming from the Physical Bitcoin ETP (BTCE) product. The company, which has also launched funds for altcoins like <a href="https://en.coin-turk.com/solana-overcomes-network-congestion-challenges/" data-wpel-link="internal">Solana</a>, LTC, and ADA Coin, will now enable Bitwise to easily do the same in Europe. 
If Bitwise increases its investments in Europe, we may see more products that allow investors familiar with traditional markets to enter cryptocurrencies. ETC Group Co-Founder Duke said: 
<blockquote> 
 “We can do a bit more in Europe than you can in the US, so they’ll be able to implement some of their product ideas through us as an issuer. The market here is more advanced than in the US, not only allowing a broader range of cryptocurrencies but also basket products and staking ETPs.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-acquires-etc-group-to-expand-in-europe/" data-wpel-link="internal">Bitwise Acquires ETC Group to Expand in Europe</a></h5>
The post <a href="https://en.coin-turk.com/bitwise-acquires-etc-group-to-expand-in-europe/" data-wpel-link="internal">Bitwise Acquires ETC Group to Expand in Europe</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitwise Acquires ETC Group to Expand in Europe

Table of Contents

COINTURK NEWS

Other articles published on Aug 19, 2024

Bitcoin Miners Could Gain $13.9 Billion Annually From Shift to AI, High-Performance Computing, Va...

Calm Before the Storm: XRP on the Verge of a Big Move Around This Critical Level (Ripple Price An...

Analyst Predicts Arweave (AR) Breakout: $50 An Easy Target?

Top Tap-to-Earn Games to Play in 2024

Can DTX Exchange Touch $500M Cap After Q4 Listing? Notcoin and Fantom Dominance Under Threat

JokerAI64x Launches AI-Driven Token with Presale Bonuses

Join our free newsletter for daily crypto updates!