Highlights:
- Bitwise acquires Attestant to expand into Ethereum staking and boost client asset yields.
- The Aptos Staking ETP offers a 4.7% yield, launching on the Swiss Exchange for retail and institutional investors.
- Bitwise’s acquisition strategy aims to meet rising client demand for diversified crypto investment options.
Bitwise Asset Management has acquired Attestant, a London-based Ethereum staking service. The move will enable Bitwise to expand beyond its core ETF offerings. Bitwise is looking to expand its footprint in the crypto staking market to meet the sector’s increased demand for diversified crypto services. Attestant, managing $3.7 billion in assets, specializes in helping clients earn yields through Ethereum staking.
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The acquisition includes the transfer of Attestant’s team to Bitwise. Eleven Attestant employees will join Bitwise as part of the deal. This integration strengthens Bitwise’s operational capacity in the staking industry.
Bitwise acquires Ethereum staking service Attestant
Bitwise Asset Management, a provider of crypto ETFs, has expanded its operations by acquiring Attestant, an Ethereum staking service, according to Bloomberg. The specifics of the cash and equity deal were not disclosed. After…
— CoinNess Global (@CoinnessGL) November 13, 2024
Bitwise has been seeing growing support from clients wanting to participate in staking. Bitwise estimates around 20% of its clients are interested in staking for extra income. Moreover, the company expects that demand will rise as clients continue to explore new ways to utilize crypto assets. Hunter Horsley, CEO of Bitwise, sees the acquisition as a part of a much larger plan. Horsley noted that clients now demand robust capabilities from asset managers.
Attestant Adds $3.7 Billion in Assets
Bitwise now has total client assets of over $10 billion under management, having secured more than $3.7 billion in managed assets with Attestant. This significant increase broadens Bitwise’s client base and market influence. It also strengthens Bitwise’s standing as a leading fund manager in the crypto sector. The added assets will help Bitwise serve institutional clients more effectively.
Attestant’s Ethereum staking expertise complements Bitwise’s ETF experience. Bitwise’s acquisition positions the company to address the needs of a growing market currently underserved by crypto yield services.
Bitwise Expands Crypto Services
Bitwise’s acquisition strategy is in line with its recent product developments. In addition to acquiring Attestant, Bitwise recently launched a staking-focused exchange-traded product (ETP). This ETP enables investors to earn yields from crypto staking. Bitwise’s ETP offerings highlight its commitment to expanding beyond traditional ETFs.
The new product, known as the Aptos Staking ETP, will be listed on Switzerland’s SIX Exchange. Moreover, this launch marks Bitwise’s entry into staking ETPs, a relatively new financial product category.
Bitwise Asset Management announced that the new Bitwise Aptos Staking ETP is scheduled to be listed on the Swiss Stock Exchange on November 19, 2024. The product will be the world's first Aptos Staking ETP. APTB is physically backed and will stake the underlying Aptos to generate…
— Wu Blockchain (@WuBlockchain) November 12, 2024
Aptos is a blockchain platform that supports high-speed transactions, making it attractive to institutional investors. Bitwise sees staking ETPs as a growth area, especially as more investors seek passive income from crypto.
Aptos Staking ETP Debuts on Swiss Exchange
Aptos Staking ETP will be traded under the ticker code APTB. It is a product designed for institutional investors as well as retail investors. Aptos token, APTB, is expected to offer an estimated 4.7% annual yield through its staking. Aptos Staking ETP provides a regulated investment path to crypto yield. It reflects Bitwise’s commitment to offering accessible crypto products.
Aptos Labs CEO Mo Shaikh expressed optimism about the ETP’s potential. Shaikh views the launch as a milestone for blockchain adoption in institutional finance. In addition, Bitwise’s ETP aligns with Shaikh’s vision of Aptos as a scalable and reliable blockchain. Both Aptos and Bitwise see staking as a promising investment trend.
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