Bitwise debuts first Aptos staking ETP in Europe
First Aptos Staking ETP
Bitwise Asset Management, the largest cryptocurrency index fund manager in the U.S., has announced the launch of the first exchange-traded product (ETP) holding the native token of the Aptos network (APT) for staking.
Since staking is prohibited in U.S.-based exchange-traded funds, the Bitwise Aptos Staking ETP (APTB) will be listed on the SIX Swiss Exchange in Switzerland on November 19 and will be accessible to institutional and retail investors in Europe.
According to Bitwise, the ETP is “physically backed and will stake the underlying Aptos tokens to generate a yield of approximately 4.7% after fees, which will accumulate directly within the ETP.”
Why Aptos?
Aptos is a high-performance Layer-1 blockchain network launched in 2022, designed to support enterprise-scale decentralized applications (DApps).
According to Bitwise, the network already attracts 8 million active monthly users. It hosts over 250 projects and has processed about 1.7 billion transactions.
Aptos is used by companies including Microsoft, Amazon, Mastercard, Coinbase, and others.
The market capitalization of APT is around $6.5 billion, with over 80% of the supply staked. As of November 12, Aptos yields around 7% for stakers, according to Coinbase.
As we wrote, a recent sum of $157 million flowed into Ethereum-backed investment products, the highest level since Ethereum ETFs debuted earlier this year. This surge, driven by investor interest in traditional, regulated investment products, has pushed the total annual inflows into Ethereum ETFs to an impressive $915 million.
