Bitwise Asset Management is set to acquire Chorus One, a well-known institutional staking service. This move aims to strengthen Bitwise’s position in the growing market for on-chain yield and crypto staking services. Chorus One offers staking infrastructure that supports various blockchain networks, catering primarily to institutional clients.
The acquisition reflects increasing interest in crypto staking as a method for generating returns on digital assets. By integrating Chorus One’s capabilities, Bitwise intends to expand its product offerings and enhance its service for investors seeking exposure to staking rewards.
**Why this matters**
The deal highlights the rising importance of staking within the cryptocurrency ecosystem, where investors lock up assets to support network operations and earn rewards. As demand for staking services grows, firms like Bitwise are positioning themselves to capture a larger share of this emerging market. This acquisition could lead to more streamlined access to staking opportunities for institutional investors.
Source: NewsData