Bitwise Asset Management announced the launch of a new Aptos Staking Exchange-Traded Product (ETP) in Europe. The product will be available on the Switzerland-based SIX Swiss Exchange on November 19, 2024.
What is Bitwise Aptos Staking ETP?
According to a press release, APTB will be the first Aptos Staking ETP globally, marking a significant achievement for Bitwise. The product is designed for retail and institutional investors through regulated markets, leveraging staking infrastructure with best-in-class custodian, auditor, and administrator. The product is physically backed and will stake Aptos to generate returns of about 4.7% net fees. This is Bitwise's second product in the European Total Return portfolio following the successful launch of the Ethereum ETP (ET32).
Impact on APT Price
The launch of APTB has raised interest in the potential increase in adoption of the Aptos token among retail and institutional investors. As of the time of writing, APT's price is $12.46, up 0.67% in the last 24 hours, with trading volume increasing by 40.78%. While the 24-hour price increase is modest, APT has seen a 45.5% rally on the weekly chart and a 26% increase in the last 30 days.
Aptos Ecosystem Updates
The Aptos blockchain recently distributed 11.31 million APT tokens via a token unlock, increasing the current circulating supply to 520.28 million coins. This aligns with a surge in DEX trading volumes, where Aptos outpaced other blockchains with a 3.432% rise.
The launch of Bitwise's Aptos Staking ETP marks a significant milestone in the European cryptocurrency services sector, providing new opportunities for investors and supporting the growth of the Aptos ecosystem.
