Bitwise Acquires Chorus One to Build In‑House Staking and Yield Infrastructure
Bitwise Asset Management has acquired Switzerland-based institutional staking provider Chorus One, which manages roughly $2.2 billion in staked assets. Both firms confirmed the transaction; financial terms were not disclosed. The acquisition gives Bitwise direct control of staking infrastructure, allowing it to convert spot holdings into yield-generating positions, reduce reliance on third-party operators and expand on‑chain yield services for institutional clients. Bitwise — which manages over $15 billion in client assets — has been broadening its product suite (model portfolios for advisers, ETP distribution in Europe and on‑chain vault strategies targeting USDC yield). The deal comes amid strong demand for staking: a large portion of ETH is staked with long validator queues, and institutional interest in staking and stake‑enabled products (including ETFs that plan to stake portions of holdings) is rising. Market research projects robust growth for institutional staking through 2033. For traders, the acquisition signals increasing institutional infrastructure consolidation and easier access to staking yield, a trend that could influence flows into staking markets and related tokens.
Bullish
Short-term: Neutral-to-mildly bullish for ETH and staking-related tokens. The acquisition improves institutional capacity to stake and deliver yield products, which could increase demand for staking services and staked assets. That said, the immediate price effect may be limited because the deal mainly affects infrastructure and institutional product distribution rather than changing token supply. Short-term price moves could stem from shifting flows as institutions reallocate into stake-enabled products.
Long-term: Bullish for ETH staking demand and staking-market infrastructure. Bringing Chorus One in-house gives Bitwise operational control to scale staking for ETFs and other products, lowering friction for institutional staking adoption. Greater institutional demand for staking can increase effective ETH lock-up and reduce liquid supply available for trading, supporting upward price pressure over time. The deal also signals consolidation in staking infrastructure, which can reduce counterparty risk and attract further institutional capital into staking and related on-chain yield strategies.