Key Takeaways
- • Bitwise Asset Management has acquired Chorus One, an institutional staking provider holding over US$2.2 billion in staked assets, expanding Bitwise's staking capabilities under its BOS division.
- • Bitwise, a global crypto asset manager with over US$15 billion in client assets, leveraged a multidisciplinary legal team from Latham & Watkins led by Bay Area partners Saad Khanani and Benjamin Potter to execute the transaction.
- • The acquisition integrates Chorus One's institutional staking infrastructure into Bitwise's existing staking division, which already manages several billion dollars in staked crypto assets.
- • Latham & Watkins assembled a cross-functional advisory team spanning corporate, fintech regulatory, tax, intellectual property, data privacy, sanctions, antitrust, and anti-corruption expertise across multiple offices including Bay Area, New York, London, and Hamburg.
Summary
Bitwise Asset Management has completed its acquisition of Chorus One, a leading institutional staking provider, marking a strategic expansion of Bitwise's staking infrastructure capabilities. The transaction was announced on February 24, 2026, with Latham & Watkins LLP serving as legal counsel to Bitwise throughout the process.
Bitwise, operating as a global crypto asset manager with over US$15 billion in client assets, acquired Chorus One to strengthen its institutional staking operations. Chorus One brings substantial scale to the transaction, currently managing over US$2.2 billion in staked assets. Following the acquisition, Chorus One will be integrated into Bitwise's staking division, known as BOS, which already supports several billion dollars in staked crypto assets. This combination positions Bitwise as a significant player in institutional staking infrastructure, a critical service layer for institutional investors participating in proof-of-stake blockchain networks.
The legal representation was coordinated by a multidisciplinary Latham & Watkins team reflecting the transaction's complexity. The corporate team was led by Bay Area partners Saad Khanani and Benjamin Potter, alongside New York partner Daniel Mun, with associates Taylor Wood, Gabe Marx, and Owen Brody. Beyond core corporate matters, Latham's coverage extended to fintech regulatory issues (London partner Gabriel Lakeman and New York partner Jenny Cieplak), compensation and benefits (Bay Area partner Ashley Wagner), tax structuring, intellectual property, data privacy and cybersecurity, sanctions compliance, antitrust and foreign direct investment considerations, and anti-bribery and anti-corruption compliance. This breadth of expertise underscores the multi-jurisdictional regulatory landscape governing crypto asset management and institutional custody services.
The acquisition reflects broader consolidation trends in the digital asset infrastructure sector, where institutional staking—the process of locking cryptocurrency to secure blockchain networks and earn yield—has emerged as a material revenue stream and competitive differentiator for asset managers seeking to expand service offerings to institutional clients.
Bitwise, operating as a global crypto asset manager with over US$15 billion in client assets, acquired Chorus One to strengthen its institutional staking operations. Chorus One brings substantial scale to the transaction, currently managing over US$2.2 billion in staked assets. Following the acquisition, Chorus One will be integrated into Bitwise's staking division, known as BOS, which already supports several billion dollars in staked crypto assets. This combination positions Bitwise as a significant player in institutional staking infrastructure, a critical service layer for institutional investors participating in proof-of-stake blockchain networks.
The legal representation was coordinated by a multidisciplinary Latham & Watkins team reflecting the transaction's complexity. The corporate team was led by Bay Area partners Saad Khanani and Benjamin Potter, alongside New York partner Daniel Mun, with associates Taylor Wood, Gabe Marx, and Owen Brody. Beyond core corporate matters, Latham's coverage extended to fintech regulatory issues (London partner Gabriel Lakeman and New York partner Jenny Cieplak), compensation and benefits (Bay Area partner Ashley Wagner), tax structuring, intellectual property, data privacy and cybersecurity, sanctions compliance, antitrust and foreign direct investment considerations, and anti-bribery and anti-corruption compliance. This breadth of expertise underscores the multi-jurisdictional regulatory landscape governing crypto asset management and institutional custody services.
The acquisition reflects broader consolidation trends in the digital asset infrastructure sector, where institutional staking—the process of locking cryptocurrency to secure blockchain networks and earn yield—has emerged as a material revenue stream and competitive differentiator for asset managers seeking to expand service offerings to institutional clients.
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