Bitwise Acquires Chorus One in $2.2B Staking Expansion

Bitwise Asset Management has acquired Chorus One, a leading institutional staking provider, for $2.2 billion. The acquisition expands Bitwise's staking division, Bitwise Onchain Solutions, to over 30 proof-of-stake networks. Chorus One's team of infrastructure experts will join Bitwise, enhancing its research and governance tracking capabilities.

The acquisition allows Bitwise to offer professional staking services beyond Ethereum. This move supports institutional demand for yield-producing digital assets across major blockchains like Solana and Avalanche. Bitwise CEO Hunter Horsley highlighted staking as a compelling growth opportunity for clients.

Chorus One brings $2.2 billion in staked assets and a team of 50 technology professionals to Bitwise. The integration strengthens Bitwise's institutional-grade onchain solutions and deepens its expertise in validator infrastructure.

Why Did This Happen?

The acquisition reflects Bitwise's strategic focus on institutional-grade staking and governance insights. Chorus One's eight-year track record in providing staking services to high-net-worth individuals and traditional financial institutions aligns with Bitwise's long-term vision.

Bitwise's expansion into multichain staking is also a response to the growing significance of proof-of-stake networks. The firm aims to reduce reliance on third-party infrastructure while offering robust tax and audit reporting for institutional clients.

The acquisition follows Bitwise's earlier acquisition of Ethereum staking provider Attestant in November 2024. This trend indicates a broader industry shift toward asset managers directly controlling validator infrastructure.

What Does This Mean for the Market?

The acquisition comes at a time when the crypto market is seeing shifting capital allocations. While US spot Bitcoin ETFs have recorded five consecutive weeks of net outflows, funds focused on Solana and XRP have seen inflows.

Bitwise now manages over $15 billion in assets across 40+ investment products, including ETFs and staking solutions. The firm's strategic growth in institutional staking positions it to better serve clients.

The integration of Chorus One also strengthens Bitwise's position in the digital asset space. The firm now has nearly 200 employees and serves a diverse range of clients, including institutional investors, family offices, and financial platforms.

The acquisition is expected to enhance Bitwise's technical capabilities and expand its offerings to include more proof-of-stake networks. This move aligns with the broader trend of asset managers seeking to provide diversified staking products.