Bitwise Acquires Ethereum Staking Service Attestant What Is In Future For Eth?

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• Bitwise Asset Management Company acquired Attestant, an Ethereum staking service.
• More than 10 billion in client assets will now managed by Bitwise
• The rise in demand has increased the staking of ETH
• The price momentum of ETH is expected to reach new heights after the historical event.

Bitwise Asset Management is a San Francisco-based crypto asset manager that has acquired Attestant, a firm that is focused on non-custodial Ethereum staking services. Attestant will work in collaboration with Bitwise in its journey of managing different crypto index funds.

The acquisition is part of the expansion plan beyond its core business within the crypto space. Attestant handles 3.7 billion in assets for institutions outside the US planning to engage in Ethereum staking. One in five Bitwise clients is ready to stake their crypto to earn the benefits of staking. The company also expects that more users will be interested in staking soon.

Bitwise Asset Management acquired Attestant as a plan to launch new ETF services for various cryptocurrencies. As per the reports, the terms and conditions of the transactions are not currently revealed. Eleven employees from Attestant will be joining Bitwise as a part of the acquisition.

Impact of Acquisition on the Ethereum Market

The Ethereum network has emerged as a vibrant web3 ecosystem supported by mainstream institutional investors. The Ethereum network has become a major player in real-world asset tokenization . This acquisition will impact the long-term prospects of the Ethereum network. There is an additional threat by Solana to bypass the Ethereum network and become a leader in web3 space and smart contract development. There will be a significant impact on the price of Ethereum from the ongoing mainstream adoption by institutional investors. Moreover, the crypto cash rotation is about to benefit the Altcoin market after the bullish outlook led by the Bitcoin lead industry for the past two years.