Gunnercooke advise on the Bitwise acquisition of Attestant in $4b staking deal

In a significant development within the Web3 space, Bitwise Asset Management has acquired Attestant Limited, a leading institutional-grade Ethereum staking provider with $3.7 billion in staked assets. The acquisition aims to broaden Bitwise’s offerings for institutional investors by incorporating professional, non-custodial staking services alongside Bitwise's existing exchange-traded products, hedge funds, and private account strategies. The rebranded entity, Bitwise Onchain Solutions (Bitwise OS), will continue Attestant’s Ethereum services while also extending staking solutions to other protocols.

Hunter Horsley, CEO of Bitwise, commented on the acquisition’s strategic significance: “We want Bitwise to be the best possible partner to investors in the crypto space. This acquisition allows us to expand the ways we can help investors meet their objectives. The Attestant team and product are best-in-class, and we’re excited to build on this solution for clients.”

Attestant has established itself as a trusted name in the industry, with clients ranging from family offices and high-net-worth individuals to decentralized finance protocols. Known for its technical excellence and compliance-focused reporting, Attestant’s services align with Bitwise’s commitment to high-quality institutional offerings. Bitwise’s Chief Technology Officer, Hong Kim, praised Attestant's robust solutions: “The Attestant team has built a truly best-of-breed staking solution for Ethereum, one that goes above and beyond technically to give clients high performance and peace of mind.”

The acquisition will bring Attestant’s team, including co-founders Dr. Sreejith Das, Jim McDonald, and Dr. Steve Berryman, into Bitwise, creating a larger organization with over 90 employees across the U.S. and Europe. Dr. Das highlighted the alignment between the companies: “We found a firm with shared values and are excited by the opportunity to do even more for clients as part of a larger firm.”

The transaction was supported by legal counsel from gunnercooke LLP, whose team was led by Kathryn Dodds. She commented, “It was a pleasure leading the gunnercooke team on one of the most significant Web3 transactions of this year, especially with the firm having worked closely with Attestant from inception to pioneer the professionalisation of staking services.”

With this acquisition, Bitwise Onchain Solutions is positioned to capitalize on the growing demand for secure, compliant staking services in the evolving digital asset landscape.