Crypto asset manager Bitwise Asset Management is set to acquire institutional staking provider Chorus One, a move that strengthens Bitwise’s push into yield-generating digital asset products as institutional interest in staking continues to grow.
The terms of the acquisition were not disclosed, according to a report from Bloomberg. Bitwise and Chorus One have not yet provided additional details.
Bitwise CEO Hunter Horsley said the deal reflects rising demand from investors who already hold spot crypto assets and are looking for new ways to generate returns.
“For our thousands of clients who hold spot crypto assets, staking is one of the most compelling growth opportunities,” Horsley told Bloomberg.
Expanding beyond traditional crypto funds
Bitwise manages more than $15 billion in client assets worldwide and has been steadily expanding beyond its original focus on single-product crypto funds. Earlier this week, the firm launched model portfolio solutions designed for financial advisers, allowing them to allocate across digital assets based on different risk profiles.
The acquisition of Chorus One fits into that broader strategy. By bringing staking infrastructure in-house, Bitwise aims to offer more integrated services to institutional clients seeking exposure to crypto yields without managing technical complexity on their own.
Chorus One operates staking infrastructure across multiple blockchain networks and oversees about $2.2 billion in staked assets, according to its website. The company provides validator services that allow institutions to participate in proof-of-stake networks while maintaining operational and security standards.
Chorus One CEO Brian Fabian Crain said consolidation in the staking sector has become increasingly difficult to avoid as the market matures.
“It was also clear that staking is best integrated in a larger platform,” he told Bloomberg.
Ethereum staking draws institutional attention
The deal comes as staking activity, particularly on Ethereum, continues to hit new milestones. Ethereum completed its transition to proof of stake in 2022, and participation has steadily increased since then.
More than 36 million ether is now locked in Ethereum’s staking system, known as the Beacon Chain. That figure represents roughly 30 percent of the network’s circulating supply, according to data. The steady rise reflects growing confidence among both retail and institutional investors in staking as a long-term strategy.
For asset managers like Bitwise, staking offers a way to generate yield on assets that clients already hold, while also supporting the underlying blockchain networks. Integrating staking services directly into a broader asset management platform can simplify access and compliance for institutional investors.
Part of a wider M&A wave in crypto
The Bitwise–Chorus One deal also highlights a broader trend of consolidation across the digital asset industry. Crypto-related mergers and acquisitions reached record levels in 2025, driven by increased institutional participation and a more stable regulatory environment in several major markets.
According to PitchBook data, more than 265 crypto M&A transactions were completed last year, with a combined value of approximately $8.6 billion. That total was nearly four times higher than in 2024. Public market activity also accelerated, with at least 11 crypto companies going public and raising about $14.6 billion globally.
Industry observers see these moves as signs that the crypto sector is entering a more mature phase, where scale, infrastructure, and integrated services are becoming increasingly important.
Looking ahead
While details of the acquisition remain limited, the combination of Bitwise and Chorus One underscores how staking is moving from a niche technical activity into a core offering for institutional crypto investors. As staking participation grows and consolidation continues, asset managers are positioning themselves to meet demand for more comprehensive, yield-focused digital asset solutions.
For investors, the trend suggests a market that is becoming more structured, competitive, and aligned with traditional financial expectations, while still rooted in the evolving crypto ecosystem.
