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Bitwise Asset Management, an issuer of crypto exchange-traded funds (ETFs), has acquired Attestant, a non-custodial Ether (ETH) staking service provider, as part of its initiative to broaden its array of crypto services.
Attestant is a privately owned firm based in London. With this acquisition, Bitwise will oversee assets exceeding $10 billion, which includes Attestant’s $3.7 billion in assets under management (AUM). The 11 employees of Attestant will become part of Bitwise.
The specifics of the cash and equity deal were not revealed.
As reported by Bloomberg on Nov. 13, this transaction is Bitwise’s answer to the increasing demand for Ether staking services.
Bitwise CEO Hunter Horsley remarked on the acquisition, indicating that this development signifies a “new chapter” and noted that clients now anticipate companies to provide extensive capabilities at scale.
Aptos ETP Launch in Europe
This acquisition is in line with Bitwise’s expanding interest in staking-related offerings. Just a day prior, on Nov. 12, the company introduced the world’s first Aptos exchange-traded product (ETP), the Bitwise Aptos Staking ETP (APTB), which is set to be listed on the SIX Swiss Exchange on Nov. 19.
The ETP aims to stake the Aptos it possesses, which is projected to yield additional returns of around 4.7% net of fees.
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The Aptos blockchain was launched just over two years ago.
Since then:
– 1.7B transactions
– 27M+ active addresses
– 8M monthly active users
– 250+ projects built on it
– Utilized by MSFT, Amazon, Mastercard, Coinbase, and othersTL;DR: Don’t overlook Aptos.
— Bitwise (@BitwiseInvest) November 12, 2024
APTB represents Bitwise’s tenth ETP in Europe, joining a portfolio that features the largest liquid physically-backed Bitcoin (BTC) ETP, BTCE, and the emerging Ether staking ETP, ET32, which was launched earlier this year.
After its launch on the SIX Swiss Exchange, Bitwise intends to list APTB on additional major European stock exchanges.
Moreover, APTB is Bitwise’s second addition to its European Total Return product suite, which also encompasses the ETC Group Ethereum Staking ETP, which has recently exceeded $50 million in AUM.
Trump’s Win Sparks Optimism
Trump’s presidential win on Nov. 5 may open the door for a surge of new crypto ETFs in the U.S., with more than half a dozen currently awaiting regulatory approval.
The proposed ETFs include funds that hold a variety of altcoins such as Solana (SOL), Ripple (XRP), and Litecoin (LTC), among others. While U.S. ETFs are currently prohibited from including staking, this limitation could change following Trump’s victory, as he is anticipated to ease regulations surrounding digital assets.
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