Bitwise acquires Ethereum staking firm Attestant, preparing for ETF custody?

The ETF issuer Bitwise announced the acquisition of Ethereum staking provider Attestant, and launched the Bitwise on-chain solution.

Ethereum Staking Provider Attestant

Established in 2019, Attestant Limited is an institutional-grade Ethereum staking provider with $3.7 billion in staked assets. Many members of the Attestant team have backgrounds in managing funds and building institutional-grade technical infrastructure at large banks and financial institutions. Their clients include family offices, high-net-worth individuals, funds, traditional financial institutions, exchanges, custodians, protocol institutions, foundations, and decentralized finance protocols. The company is known for combining cutting-edge technology with robust tax, audit, and compliance reporting.

This acquisition expands the solutions Bitwise offers to investors, including professional non-custodial staking, as well as ETPs, hedge fund solutions, private funds, and separately managed account strategies. The team will be rebranded as Bitwise Onchain Solutions Bitwise OS, focusing on enhancing the group's existing Ethereum services, establishing staking services for selected additional protocols, and continuing to contribute to the open-source community. The minimum amount for staking services provided through Bitwise Onchain Solutions is $10 million initially.

Bitwise CTO Hong Kim stated:

The Attestant team has built the best staking solution for Ethereum, providing clients with high performance and security.

Bitwise Prepares Ethereum Spot ETF Staking

As an ETF issuer, Bitwise did not miss the Bitcoin Spot ETF and Ethereum Spot ETF this year, with the following managed asset sizes:

• Bitcoin Spot ETF BITB: $3.88 billion
• Ethereum Spot ETF ETHW: $360 million

The author speculates that this acquisition by Bitwise may also be preparing for Ethereum staking in future Ethereum Spot ETFs. The U.S. Securities and Exchange Commission (SEC) has not yet approved an Ethereum spot staking mechanism or Ethereum ETF-related options trading. However, with the hope of loosening cryptocurrency-related regulations and policies with Trump set to return to the White House, Bitwise may be making proactive arrangements.