Key Takeaways
- • Bitwise Asset Management has acquired ETC Group, a London-based crypto ETP issuer managing over US$1 billion in assets under management, marking Bitwise's strategic expansion into the European market.
- • The acquisition adds nine European-listed crypto exchange-traded products (ETPs) to Bitwise's existing portfolio of ETPs, hedge fund solutions, and separately managed accounts, substantially broadening its product suite.
- • Latham & Watkins LLP provided comprehensive legal counsel across multiple practice areas, with a corporate team led by Bay Area partners Saad Khanani and Ben Potter, supported by specialists in regulatory, tax, antitrust, compliance, IP, and sanctions matters.
- • The transaction represents Bitwise's continued institutional market expansion, enabling the firm to serve European investors and deliver global insight across its digital asset product offerings.
Summary
Bitwise Asset Management has announced the acquisition of ETC Group, a London-based cryptocurrency ETP issuer with over US$1 billion in assets under management. The deal marks a significant strategic expansion for Bitwise into the European market and substantially enhances the firm's product capabilities by integrating nine European-listed crypto ETPs into its existing suite of exchange-traded products, hedge fund solutions, and separately managed accounts.
ETC Group's established presence in Europe positions Bitwise to better serve institutional and retail investors across the region. The acquisition enables Bitwise to leverage European infrastructure and regulatory frameworks while providing its client base with expanded global exposure to digital assets. According to Bitwise's own commentary on the transaction, the acquisition allows the firm to "serve European investors, to offer clients global insight, and to expand the product suite with innovative ETPs."
Latham & Watkins LLP advised Bitwise on the acquisition with a cross-functional team spanning multiple disciplines. The corporate transaction was led by Bay Area partners Saad Khanani and Ben Potter, with associates Leah Adeniran, Alayna Kenney, and AJ Yoxsimer. Additional counsel was provided by specialists across financial regulatory matters (London partner Stuart Davis and Frankfurt partner Axel Schiemann), tax matters (London partner Aoife McCabe), antitrust review (London partner Jonathan Parker), compensation and benefits (London partner Kendall Burnett), intellectual property and data privacy (London partner Fiona Maclean), and anti-bribery, corruption, and sanctions compliance (associates Annie Birch and Thomas Lane). This breadth of expertise reflects the regulatory complexity inherent in cross-border crypto asset management transactions.
The transaction underscores continued institutional consolidation within the crypto asset management sector, particularly as established providers expand their geographic footprint and product offerings to capture growing European demand for regulated digital asset exposure.
ETC Group's established presence in Europe positions Bitwise to better serve institutional and retail investors across the region. The acquisition enables Bitwise to leverage European infrastructure and regulatory frameworks while providing its client base with expanded global exposure to digital assets. According to Bitwise's own commentary on the transaction, the acquisition allows the firm to "serve European investors, to offer clients global insight, and to expand the product suite with innovative ETPs."
Latham & Watkins LLP advised Bitwise on the acquisition with a cross-functional team spanning multiple disciplines. The corporate transaction was led by Bay Area partners Saad Khanani and Ben Potter, with associates Leah Adeniran, Alayna Kenney, and AJ Yoxsimer. Additional counsel was provided by specialists across financial regulatory matters (London partner Stuart Davis and Frankfurt partner Axel Schiemann), tax matters (London partner Aoife McCabe), antitrust review (London partner Jonathan Parker), compensation and benefits (London partner Kendall Burnett), intellectual property and data privacy (London partner Fiona Maclean), and anti-bribery, corruption, and sanctions compliance (associates Annie Birch and Thomas Lane). This breadth of expertise reflects the regulatory complexity inherent in cross-border crypto asset management transactions.
The transaction underscores continued institutional consolidation within the crypto asset management sector, particularly as established providers expand their geographic footprint and product offerings to capture growing European demand for regulated digital asset exposure.
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