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Bitwise to Launch Aptos Staking ETP in Europe Starting November 19

Bitwise’s Aptos ETP will be the first ever exchange-traded fund backed by Aptos’ APT coin.

Avatar image of Mishael Nwani Mishael Nwani•November 12, 2024
aptos

On Tuesday, asset management firm Bitwise announced the launch of the Bitwise Aptos staking exchange-traded product (ETP). This investment vehicle enables exposure to APT, the native coin for the layer-1 blockchain Aptos. Scheduled to commence trading activities on November 19, the ETP will be listed on the Switzerland-based stock exchange, SIX Swiss Exchange.

Bitwise to Launch Aptos Staking ETP

The firm’s Bitwise Aptos Staking ETP will operate under the ticker APTB. The asset manager’s blog post explained that the new investment vehicle will be open to institutional and retail investors. The fund is physically backed and stakes Aptos to earn a 7.7% return after fees, which is reinvested directly within the ETP. This allows investors to earn rewards from Aptos staking without having to stake their tokens directly.

Bitwise’s APTB grounds itself as a simple option for those wanting to invest in the blockchain but lacking the expertise or resources to stake on their own. Like Bitcoin ETFs, the Aptos-backed product allows investors to gain exposure to crypto assets without directly owning or managing them. Both products make it easier for investors to access cryptocurrencies through established financial systems. The launch of these ETPs shows how blockchain investments are gaining wider acceptance.

Commenting on the latest move, Bitwise’s co-founder and CEO, Hunter Horsley, stated:

“With the launch of Bitcoin and Ethereum spot ETPs in the US, a huge cross section of investors have begun researching and adding digital assets to their portfolios this year. We’re thrilled to now be able to launch the Bitwise Aptos Staking ETP to expand access to one of the most exciting next generation blockchains in the space.”

Like Bitwise, another asset manager, VanEck, recently introduced the staking feature to its Solana ETP to European customers.

Wen Staking Feature in the US?

The United States government has held a hostile outlook towards crypto staking, claiming that such staked assets are securities. U.S.-based crypto exchanges like Kraken and Coinbase have halted staking activities for local investors and paid fines worth millions of dollars for supposed securities violations.

With Donald Trump’s administration on the way to replace the U.S. Securities and Exchange Commission chairman Gary Gensler, market participants are optimistic that features like staking could reenter the country.

Mishael Nwani

Mishael Nwani is an avid crypto enthusiast with nearly four years of experience in the industry. Since 2022, he has covered topics across cryptocurrencies, NFTs, artificial intelligence, and financial markets.