Bitwise Asset Management has acquired Chorus One, a staking infrastructure provider with $2.2 billion in staked assets.
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By ETFWorld.co.uk
Hunter Horsley, CEO of Bitwise
The deal brings technical expertise across more than 30 proof-of-stake networks and a team of 60 professionals to the Bitwise Onchain Solutions division.
Bitwise Asset Management, a cryptocurrency-focused asset manager with $15 billion in assets under management, announced today that it has acquired Chorus One. The news was announced in a press release issued by the company.
Chorus One, founded in 2018, operates as an institutional provider of staking services. The company currently manages $2.2 billion in staked assets and has developed infrastructure for proof-of-stake blockchain networks.
The transaction involves the integration of Chorus One into Bitwise Onchain Solutions (BOS), the group’s staking division. BOS serves institutional investors, family offices and financial platforms. The acquisition expands the division’s capabilities in three specific areas: support for over 30 proof-of-stake networks (including Solana, Hyperliquid, Monad, Avalanche, Sui, NEAR, Aptos, Tezos, TON), the addition of 60 technology professionals, and enhanced research activities on protocols and governance for clients.
‘For our clients who hold spot crypto assets, staking represents a potential area of growth,’ said Hunter Horsley, CEO of Bitwise. ‘I am thrilled to announce this acquisition and grateful to the Chorus One team for their trust in us. We believe Chorus One has strong technology and research capabilities, backed by an eight-year track record. We look forward to integrating their capabilities into Bitwise Onchain Solutions.’
Hong Kim, Chief Technology Officer at Bitwise, added, ‘The Chorus One team shares our commitment to technical rigour, open source contributions and in-depth research. With the foundation of Bitwise Onchain Solutions already in place, the integration of Chorus One is set to strengthen our customer service capabilities and our commitment to industry-leading infrastructure and research.’
Brian Crain, CEO and Co-founder of Chorus One, commented: “Chorus One was built on the idea that investors deserve secure, professional access to the entire Proof-of-Stake landscape. We started with the belief that Proof-of-Stake would become the foundation of the digital economy. Growing to support over 50 networks, our focus has always been on reliability, security and performance. Joining Bitwise is a natural evolution, as we share an approach focused on meeting the sophisticated needs of investors. We are delighted to continue our work in the on-chain economy as part of this established organisation.”
Chorus One profile and operational details
Chorus One operates in the management of validator nodes and staking infrastructure for proof-of-stake networks. The company has developed tools for institutional investors that include white-label validators, ETH staking solutions (OPUS), SDKs, and APIs for reward reporting. The company has stated that it adopts ISO 27001 security standards and slashing protection mechanisms. Its customer base includes family offices, high-net-worth individuals, funds, traditional financial institutions, exchanges, custodians and decentralised protocols.
The Chorus One operating team will join Bitwise. Brian Crain will take on an advisory role. With this acquisition, Bitwise reaches nearly 200 employees globally.
Operating context
The acquisition comes amid growing institutional interest in staking. According to industry data cited in recent analyses, staking on proof-of-stake networks has seen an increase in activity, with a significant share of ETH staked on Ethereum’s beacon chain. For asset managers, direct control of the staking infrastructure allows them to offer returns on spot assets without relying on third-party providers.
Bitwise has expanded its offering in recent months. In addition to single cryptocurrency funds, the company has launched modelled portfolio solutions for financial advisers and filed documents for ETFs linked to event contracts.
Keefe, Bruyette & Woods (KBW) acted as exclusive financial advisor to Chorus One on the transaction.
Source : ETFWorld.co.uk
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