Originally published on: November 12, 2024
Bitwise, a prominent asset manager, has unveiled a groundbreaking exchange-traded product (ETP) that holds staked Aptos, the native token of the Aptos network. This exciting development was announced on November 12th and marks a significant milestone in the crypto investment landscape.
The Bitwise Aptos Staking ETP (APTB) is set to debut on the SIX Swiss Exchange on November 19th, offering both institutional and retail investors in Europe a unique opportunity to participate in the staking economy. The ETP is backed by physical assets and will stake Aptos to generate impressive returns of approximately 4.7% net of fees, with earnings accumulating directly within the ETP.
APTB joins Bitwise’s European Total Return product suite as the second addition, alongside an Ethereum staking ETP. With Bitwise’s track record of listing exchange-traded funds (ETFs) for Bitcoin and Ether in the United States, the launch of APTB further solidifies the company’s position as a leader in the crypto investment space.
Aptos, a high-performance layer-1 blockchain network established in 2022, is designed to support enterprise-scale decentralized applications (DApps). The network has already gained significant traction, boasting 8 million monthly active users, hosting over 250 projects, and settling 1.7 billion transactions.
With a market capitalization of approximately $6.5 billion, Aptos has seen over 80% of its tokens staked, offering stakers a competitive return of 7%. This growth potential, coupled with the network’s widespread adoption by industry giants such as Microsoft, Amazon, and Mastercard, makes Aptos an attractive investment opportunity for savvy investors.
The introduction of APTB comes at a pivotal moment in the crypto investment landscape, following Donald Trump’s presidential win on November 5th. Industry experts believe that Trump’s administration may usher in regulatory changes that could pave the way for the approval of additional crypto ETFs in the United States.
In anticipation of these developments, issuers are preparing to launch ETFs holding a diverse range of altcoins, including Solana, XRP, and Litecoin. Additionally, proposed crypto index ETFs are poised to offer investors exposure to a basket of digital assets, providing a diversified and efficient way to participate in the crypto market.
Coinbase, a leading crypto exchange, has introduced a new benchmark index tracking over 50 digital assets, signaling further growth in the ETF space. This move is expected to catalyze more index ETF launches in the US, offering investors access to a broader range of crypto assets.
As the crypto investment landscape continues to evolve, opportunities like the Bitwise Aptos Staking ETP present a compelling option for investors looking to capitalize on the potential of staking and blockchain technology. Stay informed on the latest developments in the crypto space by subscribing to the Finance Redefined newsletter for expert insights and analysis delivered straight to your inbox every Friday.
