Bitwise Onchain Solutions has been selected by the Ethereum Foundation to provide infrastructure for treasury staking, with a goal of staking 70,000 ETH. This move is part of the Ethereum Foundation’s strategy to generate yield for research and ecosystem grants rather than selling its ETH holdings. In its efforts to enhance multichain capabilities, Bitwise recently integrated the staking provider Chorus One into its Onchain Solutions division, further bolstered by its open-source tools, Dirk and Vouch, which facilitate secure staking for institutional clients.
Bitwise: Bitwise Asset Management is a cryptocurrency investment firm that provides on-chain solutions through its Bitwise Onchain Solutions division, focusing on non-custodial staking infrastructure across multiple proof-of-stake networks. It develops and maintains open-source software like Dirk and Vouch for professional staking operations. The Ethereum Foundation tapped Bitwise’s infrastructure to implement its treasury staking program, marking a key collaboration for securing ETH deposits.
Cointelegraph: Cointelegraph is a leading digital media platform delivering news, analysis, and updates on cryptocurrency and blockchain developments. It covers major industry events and announcements from key players. It reported the Ethereum Foundation’s update on using Bitwise infrastructure for treasury staking.
Ethereum Foundation: The Ethereum Foundation is a non-profit organization that supports Ethereum protocol development, ecosystem growth, and community advocacy. It manages treasury assets to fund research, grants, and operations. Recently, it began staking a portion of its ETH treasury using Bitwise Onchain Solutions’ tools to generate yield directed back into its activities.
Recent Expansion: Bitwise integrated staking provider Chorus One to broaden multichain capabilities in its Onchain Solutions division.
Treasury Strategy: Ethereum Foundation shifted to staking treasury ETH to generate yield for research and ecosystem grants instead of selling holdings.
Infrastructure Tools: Bitwise Onchain Solutions’ open-source Dirk and Vouch software enables secure, distributed staking for institutional use.
Source: HHorsley
