Key Takeaways
- • Bitwise Asset Management, managing over US$15 billion in client assets, has acquired Chorus One, an institutional staking provider holding US$2.2 billion in staked assets, in a strategic consolidation of the crypto infrastructure market.
- • Latham & Watkins deployed a multidisciplinary team across 10+ practice areas to advise Bitwise, including corporate, fintech regulatory, tax, IP, data privacy, sanctions, antitrust, and anti-corruption specialists, reflecting the deal's regulatory complexity.
- • Chorus One will be integrated into Bitwise's staking division, BOS, which supports several billion dollars in staked crypto assets, positioning the combined entity as a more competitive institutional staking provider.
- • The transaction represents significant convergence in institutional-grade crypto infrastructure, combining a major asset manager with a specialized staking protocol operator to serve institutional clients at scale.
Summary
Bitwise Asset Management has completed its acquisition of Chorus One, consolidating two major players in the institutional crypto staking market. Bitwise, which manages over US$15 billion in client assets, acquired Chorus One—a leading institutional staking provider managing US$2.2 billion in staked assets—to expand its staking capabilities and infrastructure footprint. The combined entity strengthens Bitwise's competitive positioning in the institutional digital asset market, where staking has become a core revenue driver and service offering.
Latham & Watkins represented Bitwise throughout the transaction with a coordinated team spanning multiple jurisdictions and practice areas. The corporate advisory effort was led by Bay Area partners Saad Khanani and Benjamin Potter, alongside New York partner Daniel Mun. Beyond core M&A work, Latham deployed specialists in fintech regulatory matters (Gabriel Lakeman in London and Jenny Cieplak in New York), compensation and benefits (Ashley Wagner), tax, intellectual property, data privacy and cybersecurity (Robert Brown), sanctions compliance (Robert Price), antitrust and foreign direct investment (Jana Dammann and Luca Crocco), and anti-bribery and anti-corruption matters (Clare Nida). This depth of expertise underscores the regulatory and compliance complexity embedded in crypto infrastructure M&A at the institutional level.
Chorus One will be integrated into Bitwise's staking division, BOS, which currently supports several billion dollars in staked cryptocurrency assets. This structural integration consolidates operational and compliance functions while centralizing institutional client relationships. The deal reflects the maturing institutional cryptocurrency market, where scale, regulatory compliance, and operational infrastructure have become competitive differentiators. For investors monitoring the crypto ecosystem, the transaction signals continued consolidation among institutional-grade service providers as the sector professionalizes and regulatory frameworks solidify globally.
Latham & Watkins represented Bitwise throughout the transaction with a coordinated team spanning multiple jurisdictions and practice areas. The corporate advisory effort was led by Bay Area partners Saad Khanani and Benjamin Potter, alongside New York partner Daniel Mun. Beyond core M&A work, Latham deployed specialists in fintech regulatory matters (Gabriel Lakeman in London and Jenny Cieplak in New York), compensation and benefits (Ashley Wagner), tax, intellectual property, data privacy and cybersecurity (Robert Brown), sanctions compliance (Robert Price), antitrust and foreign direct investment (Jana Dammann and Luca Crocco), and anti-bribery and anti-corruption matters (Clare Nida). This depth of expertise underscores the regulatory and compliance complexity embedded in crypto infrastructure M&A at the institutional level.
Chorus One will be integrated into Bitwise's staking division, BOS, which currently supports several billion dollars in staked cryptocurrency assets. This structural integration consolidates operational and compliance functions while centralizing institutional client relationships. The deal reflects the maturing institutional cryptocurrency market, where scale, regulatory compliance, and operational infrastructure have become competitive differentiators. For investors monitoring the crypto ecosystem, the transaction signals continued consolidation among institutional-grade service providers as the sector professionalizes and regulatory frameworks solidify globally.
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