Bitwise Asset Management has acquired London-based crypto firm Attestant Ltd. in a strategic move to bolster its staking services and expand its $3.7 billion in assets under management, as demand for Ethereum and other digital currencies grows. Terms of the deal were not disclosed, but the acquisition significantly enhances Bitwise’s presence in the crypto space, adding Attestant’s 13 employees to its existing 77-person workforce, bringing the total to 90.
Attestant, founded five years ago, specializes in staking services, a mechanism crucial for validating transactions on Ethereum and other blockchain networks. Staking allows cryptocurrency holders to lock up their assets in exchange for rewards, and demand for these services is expected to rise under a pro-crypto U.S. administration led by President-elect Donald Trump. According to a Coindesk analysis, a relatively small portion of Ethereum has been staked, indicating room for growth in the market.
“We want Bitwise to be the best possible partner to investors in the crypto space,” said Hunter Horsley, CEO of Bitwise. “This acquisition enables us to expand the ways we can help investors achieve their objectives.”
Bitwise, which operates the $2.71 billion Bitwise Bitcoin ETF (BITB)—the third-largest spot Bitcoin ETF—also runs the $233.7 million Bitwise Ethereum ETF (ETHW), one of the largest spot Ethereum ETFs in the market. With $2.82 billion in assets spread across seven ETFs, Bitwise has seen significant growth following the approval of the first spot Bitcoin ETFs earlier this year. The firm is also planning to launch its first exchange-traded product in Europe, following its recent acquisition of London-based digital asset issuer ETC Group.
Attestant serves a diverse range of clients, including family offices, high-net-worth individuals, funds, traditional financial institutions, and cryptocurrency exchanges. The acquisition enhances Bitwise’s offerings and positions the firm to capitalize on the growing interest in digital asset staking services.
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