Bitwise Acquires Chorus One, Bolstering Staking Infrastructure
Bitwise has acquired Chorus One, significantly expanding its institutional-grade staking infrastructure to encompass over 30 blockchain networks. This move enhances Bitwise's capacity to offer staked asset exposure.
Bitwise, a prominent digital asset investment firm, has completed the acquisition of Chorus One, a leading institutional staking infrastructure provider. This strategic move substantially expands Bitwise's operational capabilities, integrating Chorus One's extensive network support into its existing infrastructure.
The acquisition grants Bitwise access to staking infrastructure across more than 30 diverse blockchain networks. Key protocols now under Bitwise's enhanced staking umbrella include Solana, Hyperliquid, Monad, Avalanche, and Sui, among others. This broadens the range of staked digital assets the firm can manage and potentially offer to its clients.
Chorus One's expertise in operating and securing validator infrastructure across numerous Proof-of-Stake networks is a core asset in this transaction. Bitwise aims to leverage this expanded technical capacity to further develop its product offerings, particularly for institutional investors seeking yield-generating opportunities within the digital asset space.
This development is significant for the Web3 ecosystem as it bolsters the institutional-grade infrastructure necessary for the broader adoption of staked assets. By enhancing its staking capabilities, Bitwise is positioning itself to potentially create more sophisticated financial products, such as exchange-traded funds (ETFs) that directly incorporate staked yield, thereby bridging traditional finance with decentralized finance.
Originally reported by CoinTelegraph.