U.S. asset management firm Bitwise has announced plans to launch an Aptos Staking Exchange-Traded Product on the SIX Swiss exchange. The product will offer staking access to both institutions and retail investors and offer staking rewards of about 4.7% net of fees.
Bitwise’s Aptos Staking Exchange Traded Product (ETP) will be listed on the SIX Swiss Exchange on November 19th, 2024, with the ticker symbol APTB. The product will give access to various types of investors, including retail and institutional investors.
Bitwise’s Aptos Staking ETP to yield investors 4.7% in staking rewards
For our European investors:
We’re excited to announce that a new Bitwise Aptos Staking ETP is scheduled to list on the SIX Swiss Exchange on Nov 19.Aptos is a high-performance Layer 1 blockchain that has grown to more than 8M monthly active users since its launch in 2022. pic.twitter.com/rMAMDTEEZq
— Bitwise (@BitwiseInvest) November 12, 2024
According to a press release, the staking product is physically backed and will give investors about 4.7% return net on fees. The staking rewards will be accumulated directly within the ETP.
Bitwise’s co-founder and CEO Hunter Horsley commented on the announcement, explaining that the staking ETP will expand access to the layer 1 blockchain. The Head of Grants and Ecosystem at Aptos Foundation, Bashar Lazaar, said that the exchange-traded product increases the accessibility of the Aptos ecosystem and paves the way for new parties, including developers, to get involved through a secure and transparent medium.
The CEO and co-founder of Aptos Labs, Mo Shaikh, also commented on the imminent launch of the staking platform, saying the Aptos Staking ETP is a significant step forward for institutional adoption. The CEO also mentioned that the product validates the reliability, scalability, and speed of the Aptos blockchain.
“As a leading industry asset manager, Bitwise is in a position to expand financial inclusivity on a global scale. The Aptos Staking ETP marks a significant leap forward for the future of institutional adoption and validates the reliability, scalability, speed of the Aptos blockchain. I can’t wait to see what new potential it will unlock in the near future.”
-Mo Shaikh
Once launched, APTB will be Bitwise’s tenth ETP in Europe. It will now be listed among other ETPs, such as Bitcoin-backed BTCE and Ethereum-staking ETP (ET32), which launched earlier this year. Bitwise also intends to list APTB for trading on other leading European stock exchanges.
Bitwise acquires ETC Group ETP issuer at an undisclosed amount
Bitwise has made significant strides to expand its growth in the decentralized finance ecology. In August this year, the asset manager announced it had acquired ETC Group, a crypto exchange-traded product issuer based in London. According to a press release, the ETP issuer, which has $1 billion in assets under management, did not disclose the company’s acquisition financial details.
The acquisition brought Bitwise’s assets under management close to $5 billion, including its Bitcoin ETF BITB and Ethereum ETF ETHW. As of November 11th, Bitwise’s BIBT received inflows worth $42.66 million, bringing the value of its total net assets under management to $3.72 billion. On the other hand, Bitwise’s ETHW saw inflows worth $15.57 million, bringing its ETH’s value under management to $348 million.
Months earlier, Bitwise predicted that institutional capital would begin flowing into Bitcoin ETFs at an exponential rate. On November 11th, Bitcoin ETFs received inflows worth $1.11 billion. The inflows marked the second single-day billion-dollar inflow after November 7th, when the firms witnessed $1.38 billion in inflows.
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