Bitwise Asset Management has announced the first-ever Aptos Staking Exchange-Traded Product (ETP), which will trade on the SIX Swiss Exchange on November 19, 2024. This product offers institutional and ordinary investors the opportunity to participate in Aptos, a blockchain noted for its speed and scalability.
The Bitwise Aptos Staking ETP (APTB) will hold staked Aptos tokens, yielding an annual return of around 4.7% after fees. The returns will be accumulated immediately within the ETP, offering it an easy option for investors to obtain exposure to the rapidly expanding Aptos ecosystem. The ETP is backed by physical Aptos tokens and provides liquidity via an exchange.
Aptos, which debuted in 2022, is known for its strong performance characteristics, allowing it to serve enterprise-scale applications. The blockchain already has over 8 million monthly active users and hosts more than 250 projects. Major firms, including Microsoft, Amazon, and MasterCard, have opted to build on it, demonstrating its potential.
This is the second addition to Bitwise’s European Total Return product range, after the successful introduction of an Ethereum Staking ETP earlier this year. Bitwise’s new Aptos product is also consistent with their overall goal of growing digital asset investing alternatives in Europe, where they already provide a number of crypto-backed ETPs.
For cryptocurrency aficionados, staking allows them to earn rewards by locking up tokens to support the network’s operations. In this situation, Aptos token holders who stake their assets contribute to safeguarding the blockchain while earning more tokens in return. This novel offering provides a simple approach for investors to participate in the rewards of blockchain validation without having to manage the technical components of staking.
With the introduction of this novel offering, Bitwise continues to play an important role in making digital asset investing more accessible and enticing to both established and new investors.
