Bitwise Asset Management is reportedly acquiring institutional stake provider Chorus One, expanding its operations into cryptocurrency income services.
The acquisition adds a major staking operation to the crypto asset manager’s platform as demand for profitable onchain products grows among both retail and institutional investors.
Chorus One provides staking services for decentralized networks and currently has approximately $2.2 billion in assets. According to to your website.
Financial terms of the deal were not disclosed, Bloomberg reported on Wednesday, citing statements from both companies.
Cointelegraph reached out to Bitwise and Chorus One for comment but did not receive a response via publication.
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The demand for Ethereum staking is growing as the validator queue grows
Ethereum validator queue data can be seen a acute enhance in demand for Ether (ETH). The queue to enter has grown to over 4 million ETH, which translates into a waiting time of over 70 days.
Currently, almost 37 million ETH is staked, or just over 30% of the total supply, and the network is secured by nearly 1 million vigorous validators. This suggests that more and more holders are choosing to lock ETH despite long delays.
The growing interest in staking has forced other major asset managers to integrate profits into regulated crypto products. Morgan Stanley has filed an application to launch an exchange-traded fund (ETF) that would engage part of its holdings to generate passive returns. Grayscale is also preparing to distribute staking rewards from its Ethereum Trust ETF, the first payout linked to onchain staking by a US-listed spot exchange-traded product.
Related: Crypto VC activity reached $4.6 billion in the third quarter, the second-best quarter since FTX’s collapse
Crypto M&A is breaking records
The Bitwise deal also follows a surge in mergers and acquisitions in the cryptocurrency industry in 2025, reaching $8.6 billion in a record 133 deals through November, surpassing the previous four-year total.
Coinbase led the wave, closing six acquisitions, including its $2.9 billion purchase of cryptocurrency derivatives exchange Deribit.
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