Bitwise Asset Management announced the upcoming launch of the Aptos Staking ETP on the SIX Swiss Exchange, marking a pioneering move as the first exchange-traded product (ETP) for staking on the Aptos blockchain.
Set to list on November 19, 2024, the ETP offers both institutional and retail investors access to staking rewards on Aptos, a layer one (L1) blockchain known for high transaction speed and scalability.
According to Bitwise, the Aptos Staking ETP aims to deliver approximately 4.7% annual returns from staking, net of fees, with all returns reinvested back into the product.
Hunter Horsley, Bitwise’s CEO and co-founder, highlighted Bitwise’s role in helping investors explore crypto, stating, “For seven years, Bitwise has been a dedicated partner to investors working to understand and access the opportunities in the new crypto asset class.”
Horsley emphasised that following the debut of Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) spot ETPs in the U.S., more investors are now adding digital assets to their portfolios, and Bitwise is excited to broaden access to Aptos through this new ETP.
The Aptos blockchain, launched in 2022 by former Meta engineers at Aptos Labs, has received backing from big names like Andreessen Horowitz and Apollo Global Management, boasting a user base exceeding eight million monthly active users.
Bitwise stated that this ETP offers a regulated route to Aptos exposure, reinforced by partnerships with established custodians and auditors to ensure security and compliance.
Joining Bitwise’s expanding range of crypto products in Europe, the Aptos Staking ETP will follow Bitcoin and Ether ETPs and Bitwise’s recent acquisition of ETC Group, emphasizing the firm’s push into the European market.
Bitwise plans to further expand the Aptos Staking ETP’s availability by listing it on additional exchanges across Europe after its Swiss launch.
Staking, the process of earning rewards by helping validate transactions on proof-of-stake (PoS) networks like Aptos, provides an income stream in the form of additional tokens, offering crypto investors an alternative to traditional dividends.
At the time of reporting, Bitcoin price was $88,435.84.