Bitwise Acquires Chorus One to Expand Institutional Staking Services

The Chorus One acquisition strengthens Bitwise’s control over staking as institutional investors increasingly prioritize yield.

Crypto fund manager Bitwise recently acquired institutional staking provider Chorus One, adding staking services to its growing product range. Rising demand for yield on spot crypto holdings has pushed asset managers to expand their offerings. Market participants see the deal as another sign that consolidation across crypto services is picking up pace.

Bitwise Pushes Further Into Institutional Yield Markets

Bitwise Asset Management has agreed to acquire Chorus One to expand its crypto income infrastructure. Both firms confirmed the transaction, though financial details were not shared at the time of publication.

Through the acquisition, Bitwise moves closer to offering staking directly to institutions without relying on external providers. Hunter Horsley, the CEO of Bitwise told Bloomberg that staking has become a major area of interest for clients holding spot crypto assets. 

Staking continues to attract asset managers seeking returns while maintaining positions. For large investors, the service has shifted from an add-on to a standard portfolio feature. Running staking operations in-house also gives firms greater oversight of risk, infrastructure, and execution.

Chorus One operates staking services across multiple networks and manages about $2.2 billion in assets tied to those services. Chief executive Brian Fabian Crain said recent market conditions have made consolidation hard to avoid.

He added that staking works best when it is part of a broader investment platform than operating on its own. On the other hand, Bitwise manages more than $15 billion in client assets worldwide. 

As a result of the acquisition, Bitwise will no longer need outside firms to support staking activities. Internal ownership allows the company to oversee validators directly and align staking services more closely with its existing products. For large investors, that structure can offer greater clarity around risk, system reliability, and day-to-day management.

Over the past year, Bitwise has expanded beyond single-asset crypto funds. Earlier this week, the firm introduced model portfolio solutions designed for financial advisers. 

Crypto Firms Expand Model Portfolios and On-Chain Strategies

Demand for model portfolios has increased sharply across the investment industry. Assets linked to third-party model portfolios rose from $400 billion in 2023 to more than $645 billion by 2025. Bitwise aims to capitalize on that growth by offering crypto exposure in a familiar format for advisers.

Expansion plans now reach beyond the U.S., with Bitwise recently partnering with ING Germany to offer crypto exchange-traded products through local brokerages. The lineup includes Bitcoin and Ether ETPs held in cold storage, aimed at investors seeking regulated access.

At the same time, the asset manager has begun working more directly on public blockchains. A new on-chain vault strategy was recently introduced through decentralized lending venues. The approach targets returns of up to 6% on USDC by allocating capital to fully collateralized lending pools.

Against this backdrop, deal activity across the crypto sector has accelerated. Analysts point to improved policy expectations following Donald Trump’s return to the White House as one factor behind the increase.

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