cryptojournalist
Europe’s First Aptos Staking Product
Bitwise, a digital asset manager, has introduced the first Aptos staking exchange-traded product (ETP), available on the SIX Swiss Exchange from Nov. 19. This new product allows European institutional and retail investors to earn returns from Aptos (APT), a native cryptocurrency on the Aptos blockchain.
How the Aptos Staking ETP Works
The Aptos Staking ETP (APTB) holds real Aptos tokens and stakes them, which is expected to yield a return of around 4.7% after fees. Bitwise explains that the earned rewards will accumulate within the ETP itself, offering a streamlined way for investors to gain from staking without managing the technical aspects themselves.
Note: Staking refers to holding cryptocurrency in a blockchain network to support its operations and earn rewards in return.
Growing Demand for Staking ETPs
This Aptos ETP is Bitwise’s second staking-focused product in Europe, joining its Ethereum (ETH) staking ETP. Although Bitwise offers ETFs for Bitcoin and Ethereum in the U.S., staking remains restricted for ETPs listed in the United States.
About the Aptos Network
Aptos is a high-speed blockchain platform launched in 2022, aimed at supporting large-scale decentralized applications (Dapps). Currently, it hosts over 250 projects, has settled 1.7 billion transactions, and has major companies like Microsoft, Amazon, and Mastercard as users.
Potential U.S. Staking Policy Changes
While staking ETPs aren’t permitted in the U.S., this could shift under the new administration. After Donald Trump’s recent election victory, experts believe there may be fewer restrictions on cryptocurrency products in the U.S., including possible approval of crypto ETFs.
GIPHY App Key not set. Please check settings