Shift

Billion

Crypto fund manager <a href="https://insidebitcoins.com/news/bitwise-says-investors-not-bullish-enough-on-crypto-after-donald-trump-u-turn-kamala-harris-outreach" rel="noopener noreferrer nofollow">Bitwise</a> has expanded its presence into Europe by acquiring London-based ETC Group, adding 9 exchange-traded products (ETPs) to its portfolio.
While the financial terms were not disclosed, the acquisition brings an additional $1 billion in assets under management (AUM) to Bitwise, boosting the firm’s total AUM to over $4.5 billion, according to an Aug. 19 <a href="https://bitwiseinvestments.com/newsroom/bitwise-expands-into-europe-with-acquisition-of-etc-group" rel="noopener noreferrer nofollow">announcement</a>.
<img decoding="async" src="https://coinjournal.net/wp-content/uploads/2024/08/Bitwise-expands-into-Europe-with-acquisition-of-ETC-Group.jpg" alt="Bitwise expands into Europe with acquisition of ETC Group - CoinJournal">
<h2 id="span-style-font-weight-400-bitwise-adds-btc-xrp-and-sol-etps-to-its-arsenal-span">Bitwise Adds BTC, XRP And SOL ETPS To Its Arsenal</h2>
Included in the ETPs Bitwise has added to its portfolio are what it calls “the largest and most heavily traded physical Bitcoin ETP (BTCE).”
Fully-backed Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP) and the MSCI Digital assets Select 20 (DA20) funds have been acquired.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 'Bitwise goes to Europe' <a href="https://t.co/ZE8QbUn7Wl" rel="noopener noreferrer nofollow">https://t.co/ZE8QbUn7Wl</a>
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1825523955173925221?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 19, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<a href="https://insidebitcoins.com/news/institutional-investors-to-unleash-more-massive-bitcoin-etf-buying-btc-may-soar-past-200k-this-year-bitwise-says" rel="noopener noreferrer nofollow">Bitwise</a> is one of the major players in the crypto space. Earlier this year, it launched its own spot Bitcoin ETF (exchange-traded fund) with the ticker BITB. 
Since its inception, the fund has become “one of the 25 fastest-growing ETPS of all time,” said the announcement. The fund currently boasts an AUM of over $2 billion.
In July, Bitwise also launched its first spot Ethereum ETF called the Bitwise Ethereum ETF (ETHW). It has also performed well, with its reserves topping $300 million in its first few weeks.
<h2 id="span-style-font-weight-400-bitwise-s-spot-btc-etf-sees-outflows-while-its-eth-fund-sees-some-additional-investment-span">Bitwise’s Spot BTC ETF Sees Outflows While Its ETH Fund Sees Some Additional Investment</h2>
Data from <a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">Farside Investors</a> shows that BITB was one of the only two funds to record outflows yesterday. Franklin’s EZBC was the other fund that saw capital leave its reserves. 
Many of the spot Bitcoin ETFs recorded zero flows on the day, except for BlackRock’s IBIT and Fidelity’s FBTC. Both of these ETFs managed to keep yesterday’s net flows positive.
Looking at spot <a href="https://farside.co.uk/eth/" rel="noopener noreferrer nofollow">Ethereum ETF flows</a> for the same day, Bitwise’s ETHW was one of the only funds to record inflows. Grayscale’s ETH fund also recorded positive flows, while Grayscale’s ETHE pushed the net flows for the day into the negatives.
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Bitwise Expands Into Europe With ETC Group Acquisition, Adding 9 Crypto ETFs

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