Bitwise Asset Administration has acquired Attestant Restricted, an institutional-grade Ethereum (ETH) staking supplier, in a deal that enhances the agency’s complete property below administration (AUM) to over $10 billion, based on a Nov. 13 press launch.
The acquisition permits Bitwise so as to add Ethereum staking to its lineup of exchange-traded merchandise, personal funds, and hedge fund options. The transfer is a part of Bitwise’s technique to deepen its choices for high-net-worth and institutional shoppers.
Established in 2019, Attestant has a status for technical rigor and a portfolio that features $3.7 billion in staked property. The agency’s consumer base spans household places of work, conventional monetary establishments, and DeFi protocols, with providers that prioritize compliance and reporting requirements typically important to large-scale traders.
In accordance with Bitwise, the acquisition shall be housed below a brand new division, Bitwise Onchain Options (Bitwise OS), which can initially supply Ethereum staking with a $10 million minimal.
The core group at Attestant — together with co-founders Sreejith Das, Jim McDonald, and Steve Berryman — is predicted to affix Bitwise. The group’s experience, notably in capital preservation and institutional expertise, is anticipated to enrich Bitwise’s concentrate on safe and scalable digital asset options.
The acquisition marks a notable shift as Bitwise Onchain Options prepares to discover staking providers for added protocols whereas contributing to open-source initiatives. Bitwise has indicated that Attestant’s services and products will proceed to function with out interruption, guaranteeing stability for present shoppers.
Galaxy Digital Companions served because the unique monetary advisor to Attestant for the deal.
Talked about on this article
