Bitwise to acquire crypto staking provider Chorus One: Bloomberg

According to a recent report by Bloomberg, leading cryptocurrency asset manager Bitwise is set to acquire staking infrastructure provider Chorus One. This strategic move signifies a major push by Bitwise to integrate institutional-grade staking services directly into its product offerings.

Chorus One is a prominent player in the crypto staking ecosystem, operating validators for various proof-of-stake networks, including Ethereum, Solana, and Cosmos. The acquisition highlights the increasing appetite among traditional financial institutions and asset managers to capture yield generation services within the digital asset space.

While the financial terms of the deal were not immediately disclosed, the purchase of Chorus One represents a key vertical integration strategy for Bitwise, known primarily for its suite of crypto exchange-traded products (ETPs) and indices. By acquiring established expertise and robust infrastructure, Bitwise aims to offer clients secure, compliant, and efficient staking services, potentially enhancing the overall competitiveness and yield potential of their managed funds. This acquisition follows a broader trend in the industry where asset managers are seeking to control key infrastructure components essential for the maturation and institutional adoption of Web3 protocols.

Source: Bitwise to acquire crypto staking provider Chorus One: Bloomberg