Bitwise Asset Management Enhances Ethereum Staking through Attestant Limited Acquisition
Bitwise Asset Management has undertaken a substantial development in the cryptocurrency realm by acquiring Attestant Limited, a well-known Ethereum (ETH) staking service provider. This strategic purchase will elevate Bitwise’s total assets under management (AUM) to exceed $10 billion, as officially announced on November 13.
This acquisition empowers Bitwise to enrich its product suite by integrating Ethereum staking into its current offerings, which encompass exchange-traded products, private funds, and hedge fund solutions. This move resonates with Bitwise’s ongoing mission to cater better to high-net-worth individuals and institutional investors.
Founded in 2019, Attestant has garnered a strong reputation for its technical prowess, showcasing a robust portfolio hosting $3.7 billion in staked assets. Its client base includes family offices, traditional financial entities, and DeFi protocols, emphasizing compliance and reporting standards crucial to significant investors. Attestant’s steadfast commitment to operational excellence has positioned it as a respected entity in the industry.
Insights from Bitwise experts reveal that the acquisition will be integrated into a newly established division, Bitwise Onchain Solutions (Bitwise OS), with an initial focus on Ethereum staking and a minimum investment threshold of $10 million. The core team from Attestant, comprising co-founders Sreejith Das, Jim McDonald, and Steve Berryman, will join Bitwise. Their extensive expertise in wealth preservation and institutional technology is anticipated to enrich Bitwise’s offerings, ensuring that digital asset solutions remain secure and scalable.
Industry analysts perceive this acquisition as a significant milestone for Bitwise Onchain Solutions, enhancing its capabilities and paving the way for staking services across various protocols. It also underlines a commitment to supporting open-source initiatives, reflecting Bitwise’s dedication to the broader blockchain ecosystem. Notably, Bitwise has assured that Attestant’s current products and services will continue seamlessly, providing stability for existing clients during this transition.
Galaxy Digital Partners served as the exclusive financial advisor to Attestant in this transaction, underscoring the strategic importance of this acquisition amid the rapidly evolving digital asset landscape.
In summary, Bitwise Asset Management’s acquisition of Attestant Limited not only significantly broadens its asset management capacities but also positions the firm as a formidable player in the institutional staking arena. Leveraging Attestant’s technical acumen and established client network, Bitwise is poised to enhance its service spectrum while upholding a steadfast commitment to quality and compliance, cementing its role as a frontrunner in cryptocurrency investments.
