Outside Source
Bitwise has launched the world’s first Aptos Staking exchange-traded product, offering staking rewards of approximately 4.7% net of fees.
Aptos (APT) soared 20% to $12.9 on Tuesday, Nov. 12, after U.S.-based fund manager Bitwise announced plans to debut the world’s first Aptos Staking ETP on the SIX Swiss exchange.
Set to launch on Nov. 19, the Bitwise Aptos Staking ETP under the APTB ticker will offer investors staking rewards of approximately 4.7% net of fees. Bitwise says the new product is designed for both “institutional and retail investors,” leveraging a custodian, auditor, administrator, and staking infrastructure. APTB will stake the underlying Aptos tokens, generating returns that will be accumulated directly within the ETP, the press release reads.
Bitwise chief executive Hunter Horsley says the firm decided to launch a new ETP after a “huge cross section of investors” have begun researching and adding digital assets to their portfolios following the launch of Bitcoin and Ethereum spot ETPs in the U.S.
The Aptos Staking ETP is the second product in Bitwise’s European Total Return suite, following the launch of the Ethereum Staking ETP earlier this year. It is also the first product to be released after Bitwise’s acquisition of ETC Group in August.
With the latest product launch, APTB will be the 10th ETP for Bitwise in Europe, joining products such as Bitcoin ETP and Ethereum Staking ETP. The firm plans to expand listings for APTB to additional European stock exchanges following its debut in Switzerland.
This article first appeared at crypto.news
