Originally published on: November 12, 2024
Bitwise, a renowned asset manager, has made waves in the cryptocurrency market by launching the first-ever exchange-traded product (ETP) centered around staked Aptos, the native token of the Aptos network. This groundbreaking development was officially announced on November 12, marking a significant milestone in the world of digital assets.
The Bitwise Aptos Staking ETP, known as APTB, is set to debut on the SIX Swiss Exchange on November 19, opening up exciting opportunities for both institutional and retail investors across Europe. What sets this ETP apart is its unique approach – it is physically backed and will stake the underlying Aptos to generate returns of approximately 4.7% net of fees, all within the ETP itself. This innovative strategy positions APTB as an attractive investment option for those looking to capitalize on the potential of staking in the crypto market.
This new offering from Bitwise expands its European Total Return product suite, complementing its existing Ethereum staking ETP. With a track record of success in the US ETF market with products for Bitcoin and Ether, Bitwise is once again pushing the boundaries of traditional investment instruments with its foray into the staking sector.
Aptos, the high-performance layer-1 blockchain network launched in 2022, has rapidly established itself as a key player in the decentralized applications (DApps) space. Boasting a user base of 8 million monthly active users and hosting over 250 projects, Aptos has positioned itself as a preferred platform for industry giants such as Microsoft, Amazon, and Mastercard. With a market capitalization of $6.5 billion and a staking rate exceeding 80%, Aptos offers stakers an attractive 7% return, making it a lucrative option for investors.
The launch of the Bitwise Aptos Staking ETP comes at a pivotal moment in the crypto landscape, with regulatory developments and market dynamics signaling a new era of growth and innovation. As the crypto market continues to evolve, Bitwise’s bold move into the staking sector paves the way for a new wave of investment opportunities that promise to reshape the financial landscape.
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