APT soars 20% as Bitwise rolls out Aptos staking ETP on Swiss exchange

Bitwise has launched the world’s first Aptos Staking exchange-traded product, offering staking rewards of approximately 4.7% excluding fees.

Aptos (APT) rose 20% to $12.9 on Tuesday, November 12, after US-based fund manager Bitwise announced plans to launch the world’s first Aptos Staking ETP on the SIX Swiss exchange.

Bitwise Aptos Staking ETP under the ticker APTB, which will be launched on November 19, will offer investors staking rewards of approximately 4.7% excluding fees. Bitwise says the new product is designed for both “institutional and individual investors” and leverages custody, controller, manager and staking infrastructure. The press release states that APTB will stake the underlying Aptos tokens and generate returns that will be collected directly within the ETP.

Bitwise CEO Hunter Horsley said the firm decided to launch a new ETP after “a large number of investors” began exploring and adding digital assets to their portfolios following the launch of Bitcoin and Ethereum spot ETPs in the US.

Aptos Staking ETP is the second product in Bitwise’s European Total Return suite, following the Ethereum Staking ETP launched earlier this year. It is also the first product to launch following Bitwise’s acquisition of ETC Group in August.

With its latest product launch, APTB will be Bitwise’s 10th ETP in Europe, joining products such as Bitcoin ETP and Ethereum Staking ETP. The firm plans to expand APTB’s listings to other European exchanges following its debut in Switzerland.

Leave a Reply

Your email address will not be published. Required fields are marked *