Bitwise don buy Chorus One to boost multi-chain staking, including SOL
Bitwise don knack di staking provider Chorus One, bringin ova $2.2 billion wey dey staked assets plus about 50 workers enter Bitwise Onchain Solutions. Di deal wey dem no talk di size, don expand Bitwise institutional staking infrastructure reach more than 30 proof‑of‑stake chains — specially Solana (SOL), Sui, Aptos, Avalanche (AVAX), Tezos (XTZ) and Monad — and dem move Chorus One CEO Brian Crain go adviser role. Bitwise (wey dey manage ~ $15 billion across 40+ products) talk say dis move go strong their staking abilities for institutions and retail clients and fit support growth for staking‑related ETFs like Bitwise Solana Staking ETF (BSOL). Analysts wey dem quote later talk say di acquisition fit make staking rewards easier to access and boost SOL long‑term fundamentals; but short‑term technicals for SOL still weak (oversold RSI and ongoing downtrend). Dem no disclose di deal size.
Bullish
Di acquisition likely go make SOL dey bullish for medium to long term because e dey increase institutional‑grade staking capacity and distribution channels for staking rewards. By knack Chorus One $2.2B wey dem don stake plus infrastructure into mouth, Bitwise fit scale staking services (including through ETFs like BSOL), wey go reduce operational wahala for institutional and retail people wey wan join. More on‑chain staking demand and easier access to staking rewards don historically support token fundamentals (reduced circulating supply, steady lockups, and increased demand from custodians/funds). But for short term, price fit quiet or mix: later notes show SOL technicals don oversold and dey for downtrend, so traders fit see limited upside until market sentiment and momentum improve. Short: strategic and structural positives for SOL fundamentals (bullish medium/long term), but short‑term price action fit remain constrained by the current bearish technicals.