As a seasoned crypto investor with over a decade of experience navigating the volatile and dynamic landscape of digital assets, I find Bitwise’s expansion into Ethereum staking through Attestant acquisition an exciting development. Having witnessed the surge in demand for passive income opportunities within the cryptocurrency ecosystem, this move is a testament to the growing maturity and diversification of crypto-focused businesses.
In simpler terms, according to a report by Bloomberg on November 13th, Bitwise Asset Management – famous for its Bitcoin-based exchange-traded funds (ETFs) – is broadening its horizons by acquiring Attestant, a service provider specializing in Ethereum staking.
Based on Bloomberg reports, Bitwise has purchased a company named Attestant, which specializes in Ethereum staking services. This acquisition is aimed at broadening Bitwise’s horizons beyond its primary crypto-related businesses. Attestant currently manages assets worth $3.7 billion for international institutions interested in participating in Ether (ETH) staking activities.
The agreement, with details not yet revealed, adds Attestant’s group of eleven members to Bitwise, signifying a fresh endeavor for the company offering Bitcoin ETF services.
Hunter Horsley, CEO of Bitwise, referred to this action as a “new phase,” emphasizing that clients today demand companies to offer comprehensive abilities on a large scale.
Bitwise offers staking ETP
In response to growing curiosity about cryptocurrency staking, Bitwise has taken the step to introduce a new product. Specifically, on November 12th, they unveiled an exchange-traded product (ETP) focused on staking Aptos (APT) tokens.
The Bitwise Aptos Staking ETP, referred to as APTB, is set for a listing on the Six Swiss Exchange, effective November 19.
The ETP, supported by its underlying asset, is designed to yield around 4.7% of the fees it collects netly. APTB represents Bitwise’s second offering within its European Total Return lineup, encompassing an Ether staking ETP as well.
Staking a major selling point for Ethereum
Previously in an interview on CryptoMoon, Steve Berryman, the chief business officer at Attestant, highlighted that staking is a significant advantage for Ethereum. He explained that by investing in an Ethereum-focused ETF, investors could potentially earn around 4% annually through staking and thus have exposure to ETH.
Attempts were made by ETF creators to incorporate staking into their offerings, yet these attempts were denied by the U.S. Securities and Exchange Commission. According to Berryman, excluding staking from ETFs was necessary at the time, but he anticipates that it might be possible to introduce it in the future.
“It makes a lot of sense to introduce staking at some point. If you’re going to hold Ethereum, then why wouldn’t you also stake it?” Berryman said.
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2024-11-13 12:25