Bitwise Asset Administration has acquired Attestant Restricted, an institutional-grade Ethereum (ETH) staking supplier, in a deal that enhances the agency’s whole property below administration (AUM) to over $10 billion, in keeping with 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 purchasers.
Established in 2019, Attestant has a fame for technical rigor and a portfolio that features $3.7 billion in staked property. The agency’s consumer base spans household workplaces, conventional monetary establishments, and DeFi protocols, with providers that prioritize compliance and reporting requirements typically important to large-scale buyers.
In keeping with Bitwise, the acquisition will likely be housed below a brand new division, Bitwise Onchain Options (Bitwise OS), which is able to initially supply Ethereum staking with a $10 million minimal.
The core workforce at Attestant — together with co-founders Sreejith Das, Jim McDonald, and Steve Berryman — is predicted to hitch Bitwise. The workforce’s experience, significantly in capital preservation and institutional know-how, is anticipated to enrich Bitwise’s give attention to safe and scalable digital asset options.
The acquisition marks a notable shift as Bitwise Onchain Options prepares to discover staking providers for extra protocols whereas contributing to open-source initiatives. Bitwise has indicated that Attestant’s services will proceed to function with out interruption, making certain stability for current purchasers.
Galaxy Digital Companions served because the unique monetary advisor to Attestant for the deal.
Talked about on this article
