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HomeCoins NewsEthereumBitwise acquires Ethereum staking service Attestant, elevating AUM to $10 billion

Bitwise acquires Ethereum staking service Attestant, elevating AUM to $10 billion

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Bitwise Asset Administration has acquired institutional-level Ethereum (ETH) staking supplier Attestant Restricted in a deal that brings the agency's whole belongings beneath administration (AUM) to greater than $10 billion, based on a Nov. 13 press launch.

The acquisition permits Bitwise so as to add Ethereum stakes to its line of exchange-traded merchandise, personal funds and hedge fund options. The transfer is a part of Bitwise's technique to deepen its choices for prime internet value and institutional shoppers.

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Based in 2019, Attestant has a popularity for technical rigor and a portfolio that features $3.7 billion in deployed belongings. The corporate's shopper base consists of household workplaces, conventional monetary establishments and DeFi protocols with providers that prioritize the compliance and reporting requirements usually mandatory for big buyers.

In keeping with Bitwise, the acquisition will probably be positioned beneath a brand new division, Bitwise Onchain Options (Bitwise OS), which can initially supply Ethereum stakes with a minimal of $10 million.

Attestant's core staff – together with co-founders Sreejith Das, Jim McDonald and Steve Berryman – are anticipated to hitch Bitwise. The staff's experience, significantly in capital custody and institutional applied sciences, is anticipated to enhance Bitwise's give attention to safe and scalable digital asset options.

The acquisition represents a big shift as Bitwise Onchain Options prepares to discover staking providers for different protocols whereas contributing to open supply tasks. Bitwise stated Attestant's services will proceed to function with out interruption and supply stability for current shoppers.

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Galaxy Digital Companions served because the unique monetary advisor to Attestant for the transaction.

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