Bitwise Acquires $2.2B Crypto Staking Firm Chorus One
Crypto asset manager Bitwise has acquired staking services company Chorus One, which manages over $2.2 billion in staked assets.Summary
Crypto asset manager Bitwise announced the acquisition of Chorus One, a staking services company overseeing more than $2.2 billion in staked assets. Fifty of Chorus One's employees will join Bitwise Onchain Solutions. This acquisition is expected to allow Bitwise to diversify its range of crypto exchange-traded products, including staking products, especially as the SEC shows support for broader crypto investment offerings. Staking provides investors with yields, typically between 2% and 10% annually, by locking tokens on a blockchain. The deal expands Bitwise’s staking capabilities across more than 30 proof-of-stake chains, including Solana and Avalanche. Chorus One CEO Brian Crain will join Bitwise in an advisory role. Bitwise CEO Hunter Horsley noted that staking is a compelling growth opportunity for their clients.
(Source：Cointelegraph)