Bitwise Expands Staking Capabilities with Chorus One Acquisition

Bitwise, a leading crypto asset manager, has announced the acquisition of Chorus One, a prominent staking services company. With this move, Bitwise is set to expand its reach in the staking market, which allows holders of cryptocurrency tokens to earn rewards by locking their tokens on a blockchain.

The deal brings over $2.2 billion in assets under Bitwise's management, making it one of the largest acquisitions in the crypto industry this year. Chorus One has been providing staking infrastructure services since 2018 and has worked with various finance firms, family offices, and custodians.

With the acquisition, nearly 50 employees from Chorus One will join Bitwise's Onchain Solutions team, which already manages several billion dollars' worth of crypto assets. The deal is expected to strengthen Bitwise's position in the market and provide its clients with a broader range of staking products.