Bitwise Asset Administration has acquired Attestant Restricted, an institutional-grade Ethereum (ETH) staking supplier, in a deal that reinforces the agency’s complete belongings below administration (AUM) to over $10 billion, based on a Nov. 13 press release.
The acquisition permits Bitwise so as to add Ethereum staking to its lineup of exchange-traded merchandise, personal 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 places of work, conventional monetary establishments, and DeFi protocols, with companies that prioritize compliance and reporting requirements usually important to large-scale buyers.
In line with Bitwise, the acquisition might be housed below a brand new division, Bitwise Onchain Options (Bitwise OS), which is able to initially supply Ethereum staking with a $10 million minimal.
The core group at Attestant — together with co-founders Sreejith Das, Jim McDonald, and Steve Berryman — is anticipated to affix Bitwise. The group’s experience, notably 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 companies for extra protocols whereas contributing to open-source tasks. Bitwise has indicated that Attestant’s services will proceed to function with out interruption, making certain stability for current purchasers.
Galaxy Digital Companions served because the unique monetary advisor to Attestant for the deal.