Key Takeaways
- • Bitwise Asset Management has acquired Chorus One, an institutional staking provider with over $2.2 billion in staked assets, folding it into Bitwise Onchain Solutions (BOS), the firm's staking division.
- • The deal expands BOS staking coverage to more than 30 proof-of-stake networks, including Solana, Hyperliquid, Monad, Avalanche, Sui, NEAR, Aptos, Tezos and TON.
- • The acquisition adds 50 technology professionals, lifting Bitwise's headcount to nearly 200 employees worldwide, according to the company.
- • Bitwise CEO Hunter Horsley frames staking as one of the most compelling growth opportunities for clients holding spot crypto assets.
- • Keefe, Bruyette & Woods (KBW) served as exclusive financial advisor to Chorus One; financial terms of the deal were not disclosed in the announcement.
Summary
Bitwise Asset Management, which reports more than $15 billion in client assets, announced the acquisition of Chorus One, a leading institutional staking provider with over $2.2 billion in staked assets. Chorus One has joined Bitwise Onchain Solutions (BOS), the staking division of Bitwise, which supports several billion dollars in staked crypto assets. BOS primarily serves institutional investors, family offices and financial platforms.
According to the announcement, the acquisition accelerates BOS's capabilities in three areas: expanded staking on more than 30 proof-of-stake networks, the addition of 50 experienced technology professionals, and enhanced research coverage on protocol and governance developments for clients. Since its founding in 2018, Chorus One has served a global client base that includes family offices, high-net-worth individuals, funds, traditional financial institutions, exchanges, custodians and decentralized protocols.
Bitwise CEO Hunter Horsley said staking is "one of the most compelling growth opportunities" for the firm's thousands of clients who hold spot crypto assets, describing Chorus One as "best-in-class across technology and research." Bitwise CTO Hong Kim said integration would be a "massive leap forward" in the firm's capabilities. Chorus One CEO and co-founder Brian Crain said the company's focus on reliability, security and performance aligns with Bitwise's approach. The core Chorus One team will join Bitwise, while Crain will take an advisory role.
Following the deal, Bitwise reports nearly 200 employees worldwide. The firm describes itself as managing $9 billion in client assets across more than 70 investment products, including ETFs, separately managed accounts, private funds, DeFi strategies and staking, with a nine-year track record. Keefe, Bruyette & Woods served as exclusive financial advisor to Chorus One.
According to the announcement, the acquisition accelerates BOS's capabilities in three areas: expanded staking on more than 30 proof-of-stake networks, the addition of 50 experienced technology professionals, and enhanced research coverage on protocol and governance developments for clients. Since its founding in 2018, Chorus One has served a global client base that includes family offices, high-net-worth individuals, funds, traditional financial institutions, exchanges, custodians and decentralized protocols.
Bitwise CEO Hunter Horsley said staking is "one of the most compelling growth opportunities" for the firm's thousands of clients who hold spot crypto assets, describing Chorus One as "best-in-class across technology and research." Bitwise CTO Hong Kim said integration would be a "massive leap forward" in the firm's capabilities. Chorus One CEO and co-founder Brian Crain said the company's focus on reliability, security and performance aligns with Bitwise's approach. The core Chorus One team will join Bitwise, while Crain will take an advisory role.
Following the deal, Bitwise reports nearly 200 employees worldwide. The firm describes itself as managing $9 billion in client assets across more than 70 investment products, including ETFs, separately managed accounts, private funds, DeFi strategies and staking, with a nine-year track record. Keefe, Bruyette & Woods served as exclusive financial advisor to Chorus One.
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