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Bitwise Onchain Solutions To Offer Non-Custodial Staking for Starknet, the First Ethereum L2 To Enable Staking

By: Bitwise Asset Management via Business Wire

November 25, 2024 at 09:00 AM EST

Bitwise will provide both a public validator to which any STRK holders can delegate their assets and separate validators for large institutional clients.

Bitwise Asset Management, a leading crypto asset manager with $11 billion in client assets, announced today that its Bitwise Onchain Solutions division will offer staking services on Starknet, bringing the firm’s technical expertise and professional approach to the fast-growing Ethereum Layer 2 blockchain known for its leading scaling technology. Starknet is slated to make history on November 26 when it becomes the first Ethereum Layer 2 to enable staking for its native token, STRK.

“We’re thrilled to bring Bitwise’s expertise and commitment to the Starknet ecosystem and enable investors to stake with peace of mind,” said Bitwise Chief Technology Officer Hong Kim. “For years, Starknet has been pushing the frontiers of scaling and security with ZK-STARKs and its native smart-contract language, Cairo. This network has given back a great deal to the Ethereum community while staying committed to its vision of building a more accessible, transparent, and sovereign internet, the ‘Integrity Web.’ We’re fans and excited to grow with the network over the coming years.”

“The rollout of staking is an important moment in the history of Starknet as it becomes the first L2 to move towards full decentralization,” said James Strudwick, Executive Director of the Starknet Foundation. “We are excited that Bitwise has chosen to be part of this by building a non-custodial staking solution on Starknet, the first new network they have launched on since Ethereum.”

“Staking should be as accessible as possible, and we’re seeing easy-to-access solutions to ensure that Starknet staking—right from this first stage—is highly accessible,” said Eli Ben-Sasson, co-founder and CEO of StarkWare, the development team behind Starknet. “This is thanks to wallets, delegates, and great serious-about-blockchain companies like Bitwise.”

Bitwise Onchain Solutions (BOS) was formed following Bitwise’s November acquisition of leading non-custodial Ethereum staking provider Attestant. BOS combines technical expertise, ecosystem alignment, and professionalism to provide best-in-class institutional staking solutions for investors. With more than $3.5 billion in staked assets, BOS has been securely staking on Ethereum for clients since the genesis of the Ethereum Beacon Chain in 2020. The Starknet staking service by BOS represents the team’s first staking offering outside of the Ethereum Layer 1 blockchain. BOS will support staking for STRK by sharing a public validator to which any STRK holders can delegate their assets as well as separate validators and reporting solutions for large institutional clients.

Bitwise’s suite of investment solutions includes ETPs, index funds, alpha strategies, SMA strategies, and staking solutions spanning over 30 products. Bitwise’s team of over 90 professionals serves as a specialist partner to thousands of investment professionals and financial institutions looking to understand and access crypto assets.

To learn more about Bitwise’s staking solutions, contact investors@bitwiseinvestments.com or visit www.bitwiseinvestments.com.

RISKS AND IMPORTANT INFORMATION

No Advice on Investment; Risk of Loss: Prior to making any investment decision, each investor must undertake its own independent examination and investigation, including the merits and risks involved in an investment, and must base its investment decision—including a determination whether the investment would be a suitable investment for the investor—on such examination and investigation.

Crypto assets are digital representations of value that function as a medium of exchange, a unit of account, or a store of value, but they do not have legal tender status. Crypto assets are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not currently backed nor supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies, stocks, or bonds.

Trading in crypto assets comes with significant risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks and risk of losing principal or all of your investment. In addition, crypto asset markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing.

Crypto asset trading requires knowledge of crypto asset markets. In attempting to profit through crypto asset trading, you must compete with traders worldwide. You should have appropriate knowledge and experience before engaging in substantial crypto asset trading. Crypto asset trading can lead to large and immediate financial losses. Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price.

The opinions expressed represent an assessment of the market environment at a specific time and are not intended to be a forecast of future events, or a guarantee of future results, and are subject to further discussion, completion and amendment. The information herein is not intended to provide, and should not be relied upon for, accounting, legal or tax advice, or investment recommendations. You should consult your accounting, legal, tax or other advisors about the matters discussed herein.

In the United Kingdom, this communication is made and directed only at persons who fall within an exemption to the restriction on financial promotions.