Bitwise Asset Administration has acquired Attestant Restricted, an institutional-grade Ethereum (ETH) staking supplier, in a deal that enhances the agency’s whole belongings below administration (AUM) to over $10 billion, in line with a Nov. 13 press launch.
The acquisition permits Bitwise so as to add Ethereum staking to its lineup of exchange-traded merchandise, non-public 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 status for technical rigor and a portfolio that features $3.7 billion in staked belongings. 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 can be housed below a brand new division, Bitwise Onchain Options (Bitwise OS), which is able to initially provide Ethereum staking with a $10 million minimal.
The core group at Attestant — together with co-founders Sreejith Das, Jim McDonald, and Steve Berryman — is predicted to hitch Bitwise. The group’s experience, significantly in capital preservation and institutional expertise, is anticipated to enhance Bitwise’s deal with 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, guaranteeing stability for present purchasers.
Galaxy Digital Companions served because the unique monetary advisor to Attestant for the deal.
