Bitwise Asset Management is acquiring Chorus One, a major staking provider managing approximately $2.2 billion in staked crypto assets. Both companies confirmed the deal but did not disclose the purchase price.
Chorus One runs validator infrastructure for proof‑of‑stake networks and serves institutions that want staking rewards without running their own nodes. By bringing this business in‑house, Bitwise adds a large, ready‑made staking operation to a platform that already oversees more than $15 billion in client assets.
Bitwise CEO Hunter Horsley called staking “one of the most attractive opportunities” for the firm’s thousands of clients who hold spot crypto assets. He said the acquisition will help Bitwise expand from simple exposure products into more yield‑focused strategies.
Why Ethereum Staking Is A Key Target
The deal lands as Ethereum staking has become a core source of on‑chain yield for institutions. Around 30 percent of Ethereum’s supply is now staked. Additionally, long activation queues have formed regularly, indicating strong demand despite technical hurdles.
Chorus One already offers institutional staking across multiple networks. However, Ethereum sits at the center of that business because of its size and fee market. With this acquisition, Bitwise can plug Chorus One’s validators into its existing ETFs, funds, and separate accounts that hold ETH and other proof‑of‑stake assets.
Large traditional organizations, such as Grayscale and asset managers affiliated with banks like Morgan Stanley, have started studying or implementing staking across their product lines. That move shows staking yield is becoming a regular feature, not a specialized add‑on, for institutional crypto strategies.
How The Acquisition Fits Bitwise’s Broader Strategy
This is not Bitwise’s first move into staking infrastructure. In 2025, the firm acquired Attestant, an institutional‑grade Ethereum staking provider with $3.7 billion in staked assets at the time. With Chorus One added, Bitwise will control two sizable staking platforms anchored around Ethereum and other leading networks.
The deal is part of a broader consolidation in crypto, particularly in the staking industry. As businesses scrambled to scale and obtain licenses, the volume of crypto M&A deals increased to over 8.6 billion dollars across 265 transactions in 2025, nearly four times the previous year.
Combining Chorus One’s infrastructure with Bitwise’s product suite would make staking easier for institutions seeking on‑chain yield alongside ETFs and other vehicles.
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