Connect with us

Bitcoin

Bitwise Expands Into Europe With ETC Group Acquisition, Adding 9 Crypto ETFs

Published

on

Bitwise expands into Europe with acquisition of ETC Group - CoinJournal

Be part of Our Telegram channel to remain updated on breaking information protection

Crypto fund supervisor Bitwise has expanded its presence into Europe by buying London-based ETC Group, including 9 exchange-traded merchandise (ETPs) to its portfolio.

Whereas the monetary phrases weren’t disclosed, the acquisition brings an extra $1 billion in belongings underneath administration (AUM) to Bitwise, boosting the agency’s whole AUM to over $4.5 billion, based on an Aug. 19 announcement.

Bitwise expands into Europe with acquisition of ETC Group - CoinJournal

Bitwise Provides BTC, XRP And SOL ETPS To Its Arsenal

Included within the ETPs Bitwise has added to its portfolio are what it calls “the most important and most closely traded bodily Bitcoin ETP (BTCE).”

Absolutely-backed Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP) and the MSCI Digital belongings Choose 20 (DA20) funds have been acquired.

Bitwise is among the main gamers within the crypto area. Earlier this yr, it launched its personal spot Bitcoin ETF (exchange-traded fund) with the ticker BITB.

Since its inception, the fund has develop into “one of many 25 fastest-growing ETPS of all time,” stated the announcement. The fund at present boasts an AUM of over $2 billion.

In July, Bitwise additionally launched its first spot Ethereum ETF referred to as the Bitwise Ethereum ETF (ETHW). It has additionally carried out nicely, with its reserves topping $300 million in its first few weeks.

Bitwise’s Spot BTC ETF Sees Outflows Whereas Its ETH Fund Sees Some Extra Funding

Information from Farside Traders reveals that BITB was one of many solely two funds to document outflows yesterday. Franklin’s EZBC was the opposite fund that noticed capital depart its reserves.

Most of the spot Bitcoin ETFs recorded zero flows on the day, aside from BlackRock’s IBIT and Constancy’s FBTC. Each of those ETFs managed to maintain yesterday’s web flows constructive.

Taking a look at spot Ethereum ETF flows for a similar day, Bitwise’s ETHW was one of many solely funds to document inflows. Grayscale’s ETH fund additionally recorded constructive flows, whereas Grayscale’s ETHE pushed the online flows for the day into the negatives.

Associated Articles:

PlayDoge (PLAY) – Latest ICO On BNB Chain

PlayDogePlayDoge
  • 2D Digital Doge Pet
  • Play To Earn Meme Coin Fusion
  • Staking & In-Sport Token Rewards
  • SolidProof Audited – playdoge.io

PlayDogePlayDoge


Be part of Our Telegram channel to remain updated on breaking information protection

Continue Reading

Trending