Travers Smith LLP has advised ETC Group, a London-based crypto ETP issuer with over $1 billion in assets under management on its acquisition by Bitwise Asset Management, the largest crypto index fund manager in America.
Founded in 2019, ETC Group is Europe’s largest dedicated, pure-play Crypto ETP provider and enables investors to access the rapidly evolving digital assets and blockchain ecosystem. The acquisition marks Bitwise's expansion into Europe and will facilitate ETC Group's growth under the Bitwise brand in the coming months.
The Travers Smith team was led by Private Equity & Financial Sponsors Partners Tom Hartwright and Victoria Bramall, Senior Associates Eve Dwyer and Caragh Jenkins with support from Associates Katie O'Riordan and Lora Abagero, and Trainee Sid Sachdeva. Specialist tax and incentives advice was provided by Head of Tax Russell Warren and Senior Associate Tom Leatherby.
