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Bitwise Spreads Into Ethereum Stake Using Attestant Purchase

Bitwise Asset Management has acquired Attestant, a company specializing in institutional-grade Ethereum staking, in a strategic move to broaden its digital asset portfolio. With staking solutions added alongside its current exchange-traded products and funds, this purchase seeks to improve Bitwise’s services for high-net-worth clientele.

Renowned for its spot Bitcoin exchange-traded funds (ETFs), bitwise asset management is entering the Ethereum staking scene with its recent acquisition of Attestant, a well-known Ethereum staking provider. Announced on November 13, the purchase represents a major turning point for Bitwise since it diversifies its offerings to satisfy increasing institutional demand for Ethereum stake solutions.

Attestant offers a fresh perspective on Bitwise’s company since he is well-known for overseeing $3.7 billion in staked assets for overseas universities. Under unclear terms, the agreement incorporates the attestant’s 11-person team into Bitwise’s operations, demonstrating Bitwise’s commitment to offering a comprehensive array of digital asset solutions. Hunter Horsley, CEO of Bitwise, claims that this purchase marks a “new chapter” for the business, enabling it to service customers with more alternatives for staking and greater capability.

Bitwise started its staking adventure with the release of its staking exchange-traded product (ETP) for Aptos tokens, an ETP planned to open the Six Swiss Exchange on November 19. Supported directly by the staked tokens, the Aptos Staking ETP is estimated to yield a net fee return of about 4.7%. This product complements Bitwise’s European Total Return range, which already features an Ether staking ETP, therefore highlighting the company’s desire to capitalize on the market for staking-oriented financial products.

We expect Ethereum staking to attract institutional clients with high net worth, who find staking to be a compelling aspect of Ethereum. With this acquisition, Bitwise aims to provide investors with an opportunity to profit from Ethereum staking, potentially at a rate of 4% annually, a rate that would be attractive in comparison to traditional financial products.

Although regulatory constraints prevent U.S.-based ETFs from including staking, industry analysts believe that this is a reasonable development direction. Attestant’s acquisition by Bitwise is a proactive step towards market positioning since staking becomes a highly sought-after service in the digital asset ecosystem.

author avatar
Alex
Formally freelance blogger Alex is passionate writer with interest in Finance and Business, fascinated about crypto following news and covering stories.
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