Bitwise Asset Management to Buy Crypto Staking Firm Chorus One

Crypto asset manager Bitwise Asset Management Inc.is acquiring staking services provider Chorus One, adding more yield-generating products to its cryptocurrency offerings.

Both companies confirmed the deal in statements to Bloomberg News on Tuesday, without saying how much Bitwise is paying for Chorus One.

Chorus One provides institutional staking services for decentralized crypto networks and has $2.2 billion of assets staked, according to its website. Staking is a process where holders lock up their digital assets on a blockchain network to help validate transactions and secure the network, earning rewards in return for their participation.

“For our thousands of clients ...