Bitcoin ETF Issuer Bitwise Unveils Aptos Staking ETP Launch

Prominent Bitcoin ETF issuer Bitwise announced the world’s first Aptos Staking ETP, set to debut on Switzerland’s SIX Swiss Exchange on November 19, 2024. This new product, trading under the ticker APTB and identified by ISIN DE000A4AJWU3, marks a significant step for Bitwise in its effort to broaden access to digital asset investment in Europe. According to Bitwise, this crypto ETP launch represents a pioneering approach to Aptos, a high-speed Layer 1 blockchain known for its scalability and cost efficiency.

Bitwise CEO Comments on Latest Aptos ETP Launch

Hunter Horsley, CEO and Co-Founder of Bitwise, explained the company’s approach to introducing new digital asset investment opportunities. In a press release, he stated, “For seven years, Bitwise has been a dedicated partner to investors working to understand and access the opportunities in the new crypto asset class.”

In addition, he highlighted the increasing interest in crypto assets among investors, driven by recent U.S. listings of spot Bitcoin and Ethereum ETFs. Horsley also expressed excitement about expanding this access through the Aptos Staking ETP.

For further context, the Aptos blockchain, launched in 2022, quickly gained traction as a production-ready platform, thanks to its high transaction speeds and low fees. It has attracted notable enterprise interest, reaching over 8 million monthly active users. Aptos Labs, a core contributor to the platform, is led by a team of former Meta blockchain developers and backed by significant institutional investors, including Andreessen Horowitz, Apollo Global Management, and PayPal Ventures.

Moreover, Mo Shaikh, CEO and Co-Founder of Aptos Labs, emphasized the product’s significance for institutional adoption. He commented, “The Aptos staking ETP marks a significant leap forward for the future of institutional adoption and validates the reliability, scalability, [and] speed of the Aptos blockchain.”

How Does APT ETP’s Staking Feature Work?

The new ETP enables investors to participate in staking—a process whereby tokens are “staked” to help secure the network, similar to dividend-earning in traditional investments. Bitwise estimates that APTB will generate an annualized staking return of approximately 4.7% net of fees, providing investors with daily liquidity on the exchange.

According to Bradley Duke, Head of Europe at Bitwise, this feature is designed to appeal to both “forward-thinking institutional investors and crypto-savvy individuals” seeking regulated, high-quality exposure to the Aptos blockchain. The launch of APTB also continues Bitwise’s European expansion following its acquisition of ETC Group.

The Aptos Staking ETP will join Bitwise’s existing European offerings, including a physically-backed Bitcoin ETP (BTCE) and the Ethereum Staking ETP (ET32), which recently surpassed $50 million in assets under management. This strategic move aims to respond to the growing interest in digital assets in Europe, with plans to expand APTB’s availability to other major European stock exchanges following the primary listing.

Furthermore, Bashar Lazaar, Head of Grants and Ecosystem at the Aptos Foundation, emphasized the broader accessibility this product brings to the Aptos ecosystem. He stated, “This ETP makes joining the Aptos ecosystem more accessible and opens the door for new voices, developers, and audiences to get involved in a secure and transparent way.”

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