tl;dr
Bitwise Asset Management has made a significant move by acquiring ETC Group, a London-based digital asset issuer with $1.1 billion in Assets Under Management (AUM), as it enters the European market for the first time. This acquisition expands Bitwise's product lineup to include ETC Group's European-...
Bitwise Asset Management has acquired ETC Group, a London-based digital asset issuer with $1.1 billion in Assets Under Management (AUM), marking its entry into the European market. This move broadens Bitwise's product lineup to include ETC Group's nine European-listed crypto ETPs, aligning with its strategy to diversify offerings and expand its global reach.
By acquiring ETC Group, Bitwise gains access to various digital assets beyond Bitcoin, such as Ethereum Staking ETP, Solana, XRP, and the MSCI Digital Assets Select 20. These products will be rebranded under the Bitwise name in the coming months, positioning Bitwise to strategically grow the ETC Group platform in Europe.
This acquisition reflects a trend within the ETF industry, where issuers are expanding their reach and diversifying their offerings in anticipation of accelerated crypto ETP adoption. With increasing institutional demand and maturing regulations around digital assets, this industry trend is likely to continue in the coming years.
Bitwise's CEO, Hunter Horsley, emphasized the company's commitment to offering a diverse range of crypto investment products and serving global clients. The acquisition of ETC Group enables Bitwise to cater to European investors and expand its product suite, positioning it as a formidable global crypto asset manager.
Overall, this acquisition by Bitwise exemplifies the ongoing trend of collaborations and acquisitions within the crypto ETF space, as more issuers seek to expand their market presence and cater to the growing demand for digital asset investment products.
More about Rush Street Interactive Inc
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Rush Street Interactive Inc, Rush Street Interactive, Inc. is an online casino and sports betting company in the United States and Latin America. The company is headquartered in Chicago, Illinois.
Industry: TRADE & SERVICES
Sector: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION
Market Cap: 2131088000
Dividend Yield: None
Beta (5Y Monthly): None
PE Ratio (TTM): -0.09
EPS (TTM): 10.78
Earnings Date: -0.0084
Forward Dividend & Yield: 801545000, 13.03
Ex-Dividend Date: 0
1y Target Est: 0.888
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Riot Blockchain Inc
Riot Blockchain, Inc., focuses on the cryptocurrency mining operation in North America. The company is headquartered in Castle Rock, Colorado.
Industry: LIFE SCIENCES
Sector: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES
Market Cap: 2443368000
Current Price: 14.38
Dividend Yield: None
P/E Ratio: 0.56
EPS: 1.281
52-Week High: 17.45
52-Week Low: 6.36
Change from 52-Week High: -0.088
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Bitfarms Ltd - Technical Analysis Summary
Industry: Technology - Services-Computer Programming, Data Processing, etc.
Market Cap: $1,085,368,000
EPS: -0.36
PE Ratio: 0.527
RSI: 0.615
Volume: 172,702,000
Price Change: 3.89%
Support Level: $0
Resistance Level: $0.171