Bitwise Acquires Ethereum Staking Service Attestant: Will ETH Hit a New All-Time High?
Highlights:
- Bitwise Asset Management acquires Ethereum staking service Attestant.
- The acquisition positions Bitwise to manage over $10 billion in client assets.
- Demand for ETH staking continues to rise, with staking rewards at 3.78%.
- Analysts anticipate ETH price could reach a new all-time high.
Bitwise Asset Management, a prominent crypto exchange-traded fund (ETF) issuer, has announced the acquisition of Ethereum staking service Attestant. The move underscores Bitwise’s commitment to diversifying beyond its core ETF business as it continues launching crypto-focused ETFs. Industry observers are now speculating whether ETH can achieve a new all-time high during the ongoing bull market.
Bitwise Expands with Attestant Acquisition
The acquisition of London-based Attestant, which manages $3.7 billion in Ethereum staking assets, signals Bitwise’s growing focus on staking services. Attestant plays a vital role in validating Ethereum blockchain transactions, making it an attractive addition for Bitwise. As part of the deal, 11 Attestant employees will join Bitwise.
Bitwise, already managing over $10 billion in net client assets, expects the demand for staking to grow significantly. Currently, one in five of its clients is interested in staking, with expectations that the majority will adopt staking in the coming years.
Bitwise CEO Hunter Horsley stated, “We are now entering a new chapter of the maturation of this space. Clients expect scale and broad capabilities in this evolving chapter.”
Ethereum staking, according to Staking Rewards, currently offers 3.78% returns. Nearly one-third of all ETH—valued at $112 billion—is staked, with over 34.5 million ETH staked on the Beacon Chain, according to Beaconcha.in data.
ETH Market Trends and ETF Impact
Bitwise’s Bitcoin ETF (BITB) is the sixth-largest among available ETFs for U.S. investors, with $3.8 billion in assets under management and a net inflow of $2.38 billion. Its Ethereum ETF (ETHW) holds $360.58 million in assets, with a recent inflow of $17 million.
Despite recent volatility, ETH remains a focal point for investors. After a 6% decline in the past 24 hours, ETH is currently trading at $3,163, with a daily low of $3,121 and a high of $3,444. A decrease in trading volume by 10% indicates reduced activity among traders, but futures open interest (OI) data suggests continued support for upward movement.
Outlook for ETH Price
Historical price patterns, whale accumulation, and rising demand for staking point to a promising future for Ethereum. Analysts predict that ETH could break its previous all-time high as broader adoption of crypto ETFs and staking services drives market confidence.
The coming weeks will be crucial as Bitwise integrates Attestant and ETH continues to navigate a fluctuating market, with many anticipating a strong recovery fueled by increased institutional and retail participation.
