gunnercooke’s Crypto team complete one of the most significant Web3 transactions of 2024 

Bitwise Asset Management has today announced its acquisition of Attestant Limited, a leading Ethereum staking provider with $3.7 billion in staked assets. This acquisition marks a significant milestone in the crypto space, expanding Bitwise’s capabilities and client assets to rise above $10 billion. 

The acquisition expands Bitwise’s suite of solutions for investors to include professional non-custodial staking alongside ETPs, hedge fund solutions, private funds, and separately managed account strategies. 

Attestant CEO and co-founder Dr. Sreejith Das, PhD, commented: “Many on our team at Attestant have backgrounds managing money and building institutional–grade technology infrastructure at large banks and financial institutions. ”

“We started Attestant in 2019 out of deep conviction that Ethereum and public blockchains are the future, and our DNA of capital preservation, compliance, and reporting has always remained core to what we’ve built. As we got to know Bitwise, we found a firm with those same values and found ourselves excited by the opportunity to do even more for clients as part of a larger firm. 

“Kathryn Dodds and her team played a pivotal role in the sale of Attestant to Bitwise Asset Management. The team were a real pleasure to work with, going above and beyond to offer strategic advice and legal solutions throughout the transaction that were intelligent and practical. The team not only has a deep expertise in the crypto and corporate sector but also genuinely cared about the transaction, having worked with us from the inception of Attestant to its eventual sale.”  

Kathryn Dodds, said: “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. Massive thank you to the gunnercooke team: James Burnie, Mark Langford, Nicky Androsov, Rosie Burbidge, Rachel Spink, Jo Tindall, Kate Smith, Alexandra Androsov and Holly Joseph, for their expertise across corporate, regulatory, IP, data protection and employment law, highlighting the breadth of our service and knowledge within the Web3 sector.” 

Over the last five years, the team of technologists and financial services veterans at Attestant has earned the trust of more than 30 institutional clients, including family offices, high net worth individuals, funds, traditional financial institutions, exchanges, custodians, protocol foundations, and decentralised finance protocols. The firm’s services are known for combining technical excellence with robust reporting for tax, audit, and compliance. 

Going forward, there will be no disruption to Attestant’s services. The team and products will be rebranded to form Bitwise’s new Onchain Solutions group (“Bitwise OS”). Bitwise OS will focus on improving the group’s existing Ethereum services, building staking services for select additional protocols, and continuing to contribute to the open-source community. 

Commenting on the deal, Bitwise CEO Hunter Horsley said: “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.” 

Added Bitwise Chief Technology Officer, Hong Kim: “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. Beyond that, we love that they have authored important open-source projects like Dirk and Vouch, along with collaborating on important research projects in the space. That’s the Bitwise way.” 

The core Attestant team will join Bitwise, including co-founders Das, Jim McDonald, and Dr. Steve Berryman, PhD, who bring decades of experience and exceptional reputations in finance and technology. With the deal, Bitwise now has more than 90 employees across the United States and Europe. 

Galaxy Digital Partners LLC served as exclusive financial advisor to Attestant for this acquisition.