Bitwise Asset Management, a major player in the cryptocurrency index fund and ETF market, has announced the acquisition of Chorus One, a leading provider of enterprise-grade staking infrastructure. While the financial terms of the deal were not disclosed, the acquisition marks a significant strategic maneuver by Bitwise to deepen its involvement in the Proof-of-Stake (PoS) ecosystem and integrate staking yield directly into its investment products.
Chorus One operates validator nodes across numerous prominent blockchain networks, including Ethereum, Solana, Cosmos, Polygon, and Avalanche. Its institutional focus and robust security track record were cited as primary drivers for the acquisition.
For Bitwise, the move is a response to escalating institutional client demand for generating yield on crypto assets securely and compliantly. By integrating Chorus One’s expertise, Bitwise aims to offer enhanced features for its funds, allowing investors to capture staking rewards that are native to PoS networks, thereby improving the total return profile of its offerings.
Ryan Rasmussen, CEO of Bitwise, stated that the integration of Chorus One’s technical team and infrastructure will accelerate Bitwise’s ability to deliver high-quality, institutional-grade staking services. He emphasized the growing importance of staking rewards as a component of crypto asset performance, highlighting that this acquisition positions Bitwise at the forefront of this market shift.
The Chorus One team will be fully integrated into Bitwise, retaining their technical focus on node operation and security, ensuring continuity for existing clients while expanding capacity to support Bitwise’s growing institutional investor base.
Source: Bitwise to acquire crypto staking company Chorus One: Report
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