Crypto asset manager Bitwise has acquired staking services company Chorus One, overseeing $2.2 billion in staked assets, expanding Bitwise’s staking products. The deal adds 50 employees to Bitwise Onchain Solutions, supporting a broader range of crypto investment products per SEC. Staking allows 2-10% annual rewards to holders. Size of deal undisclosed.

Bitwise CEO sees staking as a significant growth opportunity for clients. The acquisition expands staking to over 30 chains like Solana and Tezos. Chorus One offers staking services to various finance firms, custodians, and funds since 2018. Bitwise now has almost 200 employees managing crypto ETPs for clients, overseeing $15 billion in assets.

Bitwise’s flagship products include the Bitwise Bitcoin ETF and Bitwise Ethereum ETF, with over $2 billion and $387 million in assets respectively. Other products include Bitwise Solana Staking ETF, XRP ETF, Chainlink ETF, and Dogecoin ETF. Chorus One team joins Bitwise, with CEO taking advisory role. Editorial Policy ensures accurate and transparent news reporting.

Read more at Cointelegraph: Bitwise Acquires $2.2B Crypto Staking Firm Chorus One