Bitwise acquires Chorus One, expands staking services

Bitwise has acquired Chorus One, a top staking provider with $2.2B in assets, expanding its crypto yield and infrastructure services. The deal’s financial terms were not disclosed.

Bitwise Asset Management has acquired Chorus One, a leading institutional staking service provider managing about $2.2 billion in staked assets. The financial terms of the deal remain undisclosed. This acquisition marks Bitwise’s strategic expansion into on-chain yield generation and blockchain infrastructure, enhancing its service offerings for institutional and retail clients. By integrating Chorus One’s validator operations across multiple proof-of-stake networks, Bitwise aims to deliver improved yield-generating solutions to its global client base, which oversees more than $15 billion in assets. The move comes amid rising demand for staking, especially as Ethereum and other networks experience increased staking activity. Industry experts view this consolidation as a significant step toward making staking a core product for Bitwise. It also highlights a broader trend of vertical integration and mergers within the crypto infrastructure sector. However, some observers caution that such deals may raise concerns about centralization risks in staking.