coinspress.com
Bitwise Asset Management has introduced a pioneering exchange-traded product (ETP) focused on staking the Aptos (APT) token, marking a significant move in the crypto investment space.
Announced on November 12, the Bitwise Aptos Staking ETP (APTB) will be listed on the SIX Swiss Exchange starting November 19, providing both retail and institutional investors in Europe access to this new offering.
This ETP will hold staked Aptos tokens and aims to deliver returns of around 4.7% net of fees, which will be reinvested directly within the product. It is part of Bitwise’s expansion in Europe, where it already offers Ethereum staking ETPs as part of its Total Return product lineup. Bitwise, known for its Bitcoin and Ethereum ETFs in the United States, is now broadening its crypto offerings internationally.
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Aptos, a high-performance layer-1 blockchain launched in 2022, supports decentralized applications (DApps) and has gained traction with major companies like Microsoft, Amazon, and Coinbase. The network boasts over 8 million monthly active users and has facilitated more than 1.7 billion transactions. Aptos’s token (APT) currently holds a market cap of around $6.5 billion, with a large portion of the supply staked by investors.
In a broader context, with over 80% of Aptos tokens staked, the network rewards its stakers with about 7% returns, as reported by Coinbase. The launch of the APTB ETP is part of a growing trend of crypto investment products, as the industry anticipates regulatory changes that may eventually allow U.S.-based crypto ETFs to incorporate staking, a shift that could follow following regulatory changes under a new U.S. administration.