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Bitwise Asset Management acquires ETC Group, Europe Expansion and ETP Suite Enhancement

Aug 19, 2024•over 1 year ago

Acquiring Company

Bitwise Asset Management

Acquired Company

ETC Group

San FranciscoLondonFinanceFinancial ServicesFinance

Description

Bitwise Asset Management has announced its acquisition of ETC Group, a London-based crypto ETP issuer with over $1 billion in assets under management. This acquisition marks Bitwise's expansion into Europe and adds nine European-listed crypto ETPs to Bitwise’s broad suite of ETPs, hedge fund solutions, and separately managed accounts. The acquisition is part of Bitwise's strategic plan to become a global crypto asset manager for investors and financial advisors.

Company Information

Company

Bitwise Asset Management

Location

250 Montgomery St., Ste. 200

San Francisco, California, United States

About

Bitwise Asset Management is a global crypto asset manager with more than $15 billion in client assets and a suite of over 30 crypto investment products spanning ETFs, separately managed accounts, private funds, hedge fund strategies, and staking. The firm has an eight-year track record and today serves more than 4,000 private wealth teams, RIAs, family offices, and institutional investors, as well as 15 banks and broker-dealers. The Bitwise team of over 100 technology and investment professionals is backed by leading institutional investors and has offices in San Francisco, New York, and London.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed