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Bitwise Expands into Ethereum Staking with New Acquisition

Bitwise Expands into Ethereum Staking with New Acquisition

Cryptodnes2024/11/15 00:22
By: Cryptodnes
BTC+0.10%APT-1.36%ETH+0.11%

Bitwise Asset Management is making a bold move into Ethereum staking by acquiring Attestant, a service provider known for its expertise in managing Ethereum pledging.

This acquisition marks a strategic shift for Bitwise, which has primarily been focused on Bitcoin -related products, such as spot Bitcoin ETFs. With the addition of Attestant’s team and capabilities, the company is expanding its reach to new opportunities within the Ethereum ecosystem.

Attestant, which holds over $3.7 billion in assets, has been helping international institutions stake Ethereum tokens. While the exact details of the deal were not disclosed, this partnership brings Attestant’s team of 11 specialists into the Bitwise fold. The move signifies a new direction for Bitwise, highlighting its commitment to diversifying its crypto offerings and meeting the evolving demands of its clients.

This expansion aligns with Bitwise’s broader strategy in the crypto space. In addition to Ethereum staking, Bitwise recently announced the launch of the Bitwise Aptos Staking ETP (APTB), which will be listed on the Six Swiss Exchange. This product aims to offer attractive returns to investors by leveraging staking and directly charging fees on pledged tokens, furthering Bitwise’s ambitions in crypto staking.

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Attestant’s business officer, Steve Berryman, has long advocated for the inclusion of staking in cryptocurrency investment products. He pointed out that Ethereum staking can provide consistent returns of around 4% annually, making it a compelling option for investors. Despite regulatory challenges in the U.S., Berryman believes the growing adoption of staking could lead to future integration into ETFs, offering investors even more options for earning rewards through crypto holdings.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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