Originally published on: November 13, 2024
Bitwise Asset Management, a leading provider of spot Bitcoin ETFs, is making a strategic move into the world of Ethereum staking with its recent acquisition of Attestant, a renowned staking service provider. This bold step marks Bitwise’s foray into new territories within the crypto space and solidifies its position as an innovative player in the market.
According to reports from Bloomberg, Attestant currently manages a staggering $3.7 billion in assets for international institutions seeking to participate in Ethereum staking. By integrating Attestant’s expertise and resources into its operations, Bitwise is poised to offer a wider range of services to its clients, catering to their evolving needs in the rapidly changing crypto landscape.
The acquisition deal, whose details remain undisclosed, brings Attestant’s skilled team of 11 professionals under the Bitwise umbrella, signaling a transformative phase for the Bitcoin ETF provider. Bitwise’s CEO, Hunter Horsley, described the move as a significant milestone, emphasizing the growing demand for comprehensive services in the industry.
This strategic decision aligns with Bitwise’s recent focus on staking-related products and services. Just a day prior to the Attestant acquisition announcement, Bitwise unveiled plans to launch a staking exchange-traded product (ETP) for Aptos tokens. The Bitwise Aptos Staking ETP (APTB) is set to debut on the Six Swiss Exchange on November 19, offering investors a unique opportunity to capitalize on the potential of staking.
Backed by Aptos tokens, the ETP aims to generate approximately 4.7% of net fees within the product, positioning itself as a lucrative investment option within Bitwise’s European Total Return suite. With a growing portfolio of innovative products, Bitwise is solidifying its presence as a market leader in the crypto investment landscape.
In a recent interview with Cointelegraph, Steve Berryman, Attestant’s chief business officer, emphasized the benefits of staking for Ethereum investors. Berryman highlighted the potential of earning a 4% annual return through staking, presenting a compelling case for incorporating staking into investment strategies.
While the US Securities and Exchange Commission has previously rejected proposals to include staking in ETFs, Berryman remains optimistic about the future prospects of this innovative concept. He believes that as the market evolves, introducing staking features in investment products will become a natural progression, offering enhanced value to investors.
As Bitwise ventures into the realm of Ethereum staking, the acquisition of Attestant signifies a strategic shift towards diversified offerings and enhanced services. With a focus on innovation and adaptability, Bitwise is setting a new standard in the crypto investment landscape, paving the way for a dynamic and profitable future for its clients. Subscribe to our Finance Redefined newsletter for the latest insights and updates on the evolving DeFi landscape.
