Bitwise Bets Big on Staking: Chorus One Acquisition Causes Chaos!

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Bitwise Asset Management, a firm whose name alone makes investors clutch their pearls, has swallowed Chorus One, a staking behemoth, in a move that will either revolutionize crypto or bury it under a mountain of bureaucracy-no one knows, but the champagne is flowing.

Bitwise, a San Francisco-based crypto asset manager with $15 billion in assets (or “digital gold” if you’re feeling poetic), has acquired Chorus One, a staking provider with $2.2 billion in staked assets. The deal folds Chorus One into Bitwise Onchain Solutions, a division that now sounds less like a tech startup and more like a Kafkaesque bureaucratic nightmare.

For those who still think crypto is just monkeys on coins: Bitwise is best known for its crypto investment products, including index funds and ETFs. Through Bitwise Onchain Solutions, it also provides staking services-allowing clients to earn yield by helping secure proof-of-stake blockchains. Or, as Gogol might say, “a modern-day miracle where money begets money without lifting a finger.”

The acquisition expands Bitwise’s staking capabilities across 30+ proof-of-stake networks, including Solana, Avalanche, Sui, and Aptos-blockchains that now sound like a Russian village fair with a Bitcoin twist. It also adds 50 technology professionals, a number suspiciously close to the number of people who can fit into a Tesla Model 3 if they really try.

Staking, once a niche activity for crypto enthusiasts, has become a playground for institutions. Large investors, now fully grown-ups in crypto, seek compliant ways to earn staking rewards without running infrastructure. Bitwise CEO Hunter Horsley called staking “one of the most compelling growth opportunities”-a phrase that makes one wonder if he’s ever actually held a token.

Chorus One, founded in 2018, built its reputation as a validator operator and research-driven staking firm. The company focused on PoS infrastructure, governance participation, and protocol research-areas that now matter as networks evolve. Or, as Gogol might put it, “the latest fad in a world where nothing is stable, least of all the economy.”

Under the deal, the core Chorus One team will join Bitwise, while co-founder Brian Crain moves into an advisory role. The combined firm will have nearly 200 employees worldwide-a number that raises questions about whether they’ll need a separate coffee truck just for the office.

This move reflects a broader trend: asset managers are no longer content to simply package tokens into funds. They’re building infrastructure, because why not? In crypto, custody was the first battleground; staking may be the next. And if you thought ETFs were complicated, wait until you see the new prospectuses.

For institutional investors, the pitch is simple: one firm to manage exposure and generate yield. Whether this leads to efficiency or a monopoly of mediocrity remains to be seen. But in crypto, as in life, the only certainty is uncertainty-and perhaps a few ill-advised tweets from executives.

FAQ 🔎

  • What does Bitwise do?
    Bitwise is a crypto asset manager offering investment products and services that are as mysterious as a midnight moon in a digital forest.
  • What is Chorus One known for?
    Chorus One is an institutional staking provider that operates validator infrastructure across 30+ proof-of-stake networks. Or, as some call it, “crypto’s version of a DMV.”
  • Why is staking important?
    Staking allows tokenholders to earn rewards by securing blockchains through validator participation. A noble pursuit, if you ignore the existential dread of relying on code written by a 19-year-old in a hoodie.
  • How does this acquisition change Bitwise?
    The deal expands Bitwise’s multichain staking capabilities, adds technical staff, and deepens its role in onchain infrastructure. Or, as Gogol might say, “a tale of two firms, one merger, and a thousand unanswered questions.”

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2026-02-26 07:57