Cryptocurrency ETF provider Bitwise acquires ETC Group

PANews reported on August 19th, according to Bloomberg, cryptocurrency ETF provider Bitwise Asset Management is acquiring London-based digital asset issuer ETC Group, further promoting a series of transactions in the ETF industry. The terms of the transaction have not been disclosed yet. In a statement released on Monday, Bitwise, headquartered in San Francisco, will manage $4.5 billion assets after the completion of the transaction. The products of ETC Group based in London include a physically-backed Bitcoin fund and it manages about $1 billion assets as per its website.