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Bitwise Asset Management announced it will launch the Aptos Staking ETP on the SIX Swiss Exchange, marking the first exchange-traded product (ETP) for Aptos staking.
Aptos Staking ETP Set to List on SIX Swiss Exchange
Bitwise’s Aptos Staking ETP, scheduled for listing on Nov. 19, 2024, is positioned to provide both institutional and retail investors with access to staking rewards on the Aptos blockchain. Aptos, a layer one (L1) blockchain known for its transaction speed and scalability, has reportedly attracted various financial institutions and brands. Bitwise stated that the ETP would generate approximately 4.7% in annual returns from staking, net of fees, with returns reinvested within the product.
“For seven years, Bitwise has been a dedicated partner to investors working to understand and access the opportunities in the new crypto asset class,” Hunter Horsley, CEO and co-founder at Bitwise remarked. “With the launch of bitcoin and ethereum spot ETPs in the U.S., a huge cross-section of investors have begun researching and adding digital assets to their portfolios this year. “
Horsley added:
We’re thrilled to now be able to launch the Bitwise Aptos Staking ETP to expand access to one of the most exciting next-generation blockchains in the space.
The Aptos blockchain, launched in 2022, was developed by a team of former Meta engineers under the company Aptos Labs. Backed by firms such as Andreessen Horowitz and Apollo Global Management, Aptos claims to have achieved enterprise-grade performance, with a reported user base exceeding eight million monthly active users. According to the announcement, Bitwise’s ETP aims to offer a regulated avenue for exposure to Aptos, leveraging partnerships with established custodians and auditors.
The Aptos Staking ETP joins Bitwise’s growing suite of crypto products in Europe, following its bitcoin and ether ETPs and its recent acquisition of ETC Group. This launch, the company explained, is part of Bitwise’s strategy to expand its offerings in the European market, with plans to list the Aptos Staking ETP on additional exchanges following its Swiss debut.
Staking allows investors to earn rewards by participating in transaction validation on proof-of-stake (PoS) networks like Aptos. Unlike traditional dividends, staking rewards are provided in additional tokens, offering an alternative revenue stream to crypto investors. Bitwise indicated that the ETP’s returns and underlying holdings would be accessible through the SIX Swiss Exchange, aiming to balance liquidity with returns.