Bitwise Acquires Ethereum Staking Firm Attestant, Adds $3.7B to Portfolio

According to Bitwise CEO Hunter Horsley, “this is a new chapter in the crypto market” where companies need to scale and offer full service. Bitwise will use Attestant’s Ethereum staking expertise to meet client demand for passive yield through staking – which is expected to grow a lot in the next few years.

https://twitter.com/BreakingWhale/status/1856623474783007164

Ethereum Staking and Growing Demand for Passive Income

The Ethereum staking market is moving fast, with over 30% of all ETH ($112 billion) staked on the Beacon Chain. Attestant’s staking management expertise aligns with Bitwise’s strategy as more investors are looking for yield in the crypto space. Staking Rewards lists Ethereum’s staking rewards at 3.78% for those looking for alternatives to traditional investments.

With 11 Attestant employees joining Bitwise, the acquisition adds to Bitwise’s operational capacity to serve its clients. Horsley said about 1 in 5 of Bitwise’s clients are interested in staking today and that number will grow a lot as the market matures.

ETH Price Outlook Amid ETF Growth and Market Shifts

The acquisition also shows Bitwise’s commitment to the growing ETF interest in the crypto space. Bitwise’s Bitcoin ETF is 6th among US ETFs with $3.8 billion AUM and its Ethereum ETF (ETHW) has seen big inflows with $360.58 million AUM.

Despite the recent volatility, Ethereum has held up well. After the recent rally, ETH is at $3,163 with a 24 hour trading range of $3,121 to $3,444. ETH is down 6% in the last trading session but 1% increase in ETH futures open interest suggests support for the up move, according to Coinglass data.

Bitwise Acquires Attestant! 🤝 A major move in the Ethereum staking space. Bitwise, with $3.7B AUM, strengthens its position. #Bitwise #Attestant #Ethereum #staking #crypto #blockchain

— meme coins (@memecoins128) November 13, 2024

Ethereum looks good with strong fundamentals, staking market and institutional interest. Industry analysis suggests a combination of staking, ETF growth and historical patterns could take ETH to new all time high in the next few months.

Key Takeaways:

• Bitwise acquires Attestant, adding $3.7 billion to managed assets.

• Ethereum staking demand grows, with nearly one-third of ETH staked.

• ETH price shows resilience amid ETF inflows and futures market interest.