Bitwise Asset Management Acquires Attestant to Expand Its Reach into Ethereum Staking

This acquisition marks a strategic shift for Bitwise, which has primarily been focused on Bitcoin-related products, such as spot Bitcoin ETFs.

Cryptocurrency asset management firm Bitwise Asset Management is venturing into Ethereum staking with the acquisition of Attestant, a service provider specializing in managing Ethereum pledging.

This move marks a significant shift for Bitwise, which has predominantly been focused on Bitcoin-related products, including spot Bitcoin ETFs. With the addition of Attestant's team and capabilities, the company is now expanding its reach to new opportunities within the Ethereum ecosystem.

Attestant, which currently holds over $3.7 billion in assets, has been assisting international institutions in staking Ethereum tokens. The partnership brings Attestant's team of 11 specialists into the Bitwise fold.

While the exact details of the deal were not disclosed, the partnership will see Attestant's team of 11 specialists joining Bitwise. This 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 been a strong advocate 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