Digital asset manager and ETF issuer Bitwise is reportedly planning to acquire institutional staking services provider ‘Chorus One’, as the company continues to expand its suite of yield-generating cryptocurrency products.
According to Bloomberg, neither company disclosed any financial information about the deal. However, if it goes through, then it would bring a sizeable staking operation onto Bitwise’s portfolio at a time when demand for yield-bearing crypto products is high among both retail and institutional investors.
Bitwise Buys Chorus One, $2.2B Institutional Staking Firm
“For thousands of clients who hold spot crypto assets, staking is one of the most compelling growth opportunities,” said Bitwise CEO Hunter Horsley in the Bloomberg report.
Chorus One is a leading institutional staking provider that offers secure, non-custodial staking infrastructure across more than 50 proof-of-stake (PoS) blockchains, including Ethereum, Solana, Cosmos, Avalanche, and Near. Since 2018, the company has specialized in delivering enterprise-grade staking solutions with a focus on security, compliance, and high reliability. According to its website, the company currently handles approximately $2.2 billion in staked assets.
Meanwhile, Bitwise manages more than $15 billion in client assets globally and has been steadily expanding its offerings beyond single-product crypto funds. On Tuesday, the company launched model portfolio solutions designed to help financial advisers allocate across digital assets with varying risk profiles.
Chorus One CEO Brian Fabian told Bloomberg that it has become inevitable to remain consolidated and that staking is best integrated into a larger platform.
Ethereum Staking Hits Record as Validator Queue Reaches ATH
Staking is growing in popularity among investors as they seek passive exposure to on-chain network security. Ethereum validator queue data shows a surge in demand to stake Ether (ETH), with the entry queue swelling to more than 4 million ETH – a fresh all-time high, translating to a waiting time of over 70 days.
More than 36 million ETH is now staked on Ethereum’s Beacon Chain – accounting for roughly 30% of the token’s circulating supply, with close to 1 million active validators securing the blockchain. This suggests that more holders are choosing to lock up ETH despite long delays.
Crypto M&A Hits $8.6B in 2025, Surpassing Prior Four Years Combined
Rising interest in staking has created a wave across the digital asset industry, with major asset managers integrating yield into regulated crypto products. Morgan Stanley has filed to launch a spot Ether exchange-traded fund (ETF) that would stake part of its ETH holdings on-chain to generate passive returns. Meanwhile, Grayscale is preparing to distribute staking rewards from its Ethereum Trust ETF (ETHE) – the first payout tied to on-chain staking by a U.S.-listed spot crypto investment vehicle.
The Bitwise-Chorus One deal also comes amid a surge in mergers and acquisitions across the crypto sector. In 2025, M&As reached $8.6 billion across a record 133 transactions by November, surpassing the combined total of the previous four years.
Coinbase led the race, closing six acquisition deals throughout the year, including the $2.9 billion acquisition of crypto derivatives exchange Deribit. Other deals included the purchase of blockchain-based advertising platform Spindl, the Roam web browser, on-chain capital raising platform Echo, memecoin exchange ‘Vector.Fun’, and token management company Liquify.
Meanwhile, Ripple acquired four companies in 2025 as part of its strategy to expand through key acquisitions and business partnerships. These deals include the $1.25 billion purchase of prime brokerage Hidden Road, the $1 billion acquisition of corporate treasury management company GTreasury, the $200 million buyout of stablecoin payment firm Rail, and the purchase of wallet service provider Palisade.
