Bitwise, a crypto asset manager that specializes in Ethereum-based staking services, has expanded its offerings to include this service.
The Cryptocurrency Index Fund Manager Bitwise Has expanded its portfolio by acquiring Attestant (a non-custodial ETH).ETHBloomberg has learned.
Although the financial details are still unknown, it is known that the London-based firm, which specializes in staking, manages about $3.7billion worth of assets on behalf of institutional investors. Bloomberg reported that the 11 members of the Attestant team would join Bitwise after the acquisition. Bitwise’s client asset management will now exceed $10 billion with this acquisition.
Hunter Horsley is Bitwise’s Chief Executive Officer. He told Bloomberg, the transaction reflects. “new chapter of the maturation of this space,” Addition of the New Chapter “most useful for clients they want you to be at a certain scale and to offer broad capabilities.”
Horsley estimates that currently, 1 in 5 Bitwise users are interested in earning a yield on their coin. However, the majority of them will be doing so over the next several years. Staked Ethereum has an average annual return of 3.43%. Nearly a third (or $112 billion) of all ETH is now staked.
Ethereum however faces a resistance level of $3.438, currently trading at $3.126 at the time of this press release and down 35% compared to its previous record of $4.891 in November 2021.
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Source: crypto.news
