Bitwise expands services into Ethereum staking with Attestant acquisition
Bitwise enters Ethereum staking with Attestant acquisition
Bitwise Asset Management, a major player in the digital asset investment sector, is making a strategic entry into the world of Ethereum staking by acquiring Attestant, a UK-based provider of Ethereum staking services. This move is seen as a significant expansion for Bitwise, which has traditionally focused on providing crypto index funds and access to Bitcoin, Ethereum, and other digital assets.
The acquisition highlights the growing importance of Ethereum staking in the wake of Ethereum’s shift to a proof-of-stake consensus model after its "Merge" upgrade in 2022.
The purchase of Attestant, a company known for its institutional-grade staking services, underscores Bitwise's confidence in the Ethereum ecosystem and the potential of staking as a viable investment opportunity for both institutions and retail investors. With Attestant's capabilities, Bitwise aims to tap into the growing demand for Ethereum staking solutions, providing its clients with a secure, compliant, and reliable platform for earning returns on their Ether holdings by participating in the network’s consensus process, as reported by Bloomberg.
Bitwise's strategy for expansion in the crypto investment market
As part of the acquisition, Bitwise intends to strengthen support for Ethereum staking services and create a more diversified set of crypto investment products. Bitwise CEO Hunter Horsley noted that this addition aligns with Bitwise's commitment to providing institutional-grade infrastructure for digital asset investments.
In recent years, Ethereum staking has gained traction, especially as institutions seek yield-generating assets in a low-interest-rate environment. By integrating Attestant's staking services, Bitwise can attract clients interested in Ethereum's long-term investment potential.
This acquisition marks a significant step in Bitwise’s growth as a digital asset firm, positioning it to meet the needs of an expanding client base interested in Ethereum's staking potential. As Ethereum's proof-of-stake ecosystem develops, Bitwise's actions may encourage other asset managers to consider staking as part of their service portfolio.
Notably, in August, Bitwise Asset Management announced its acquisition of ETC Group, a London-based issuer of crypto exchange-traded products (ETPs) with over $1 billion in assets under management. This strategic move allowed Bitwise to enter the European market and significantly expand its product offerings.
