-
It promises to generate returns of approximately 4.7% annually.
-
The Aptos token, APT, increased its price by 45% in the last 7 days.
Bitwise, an asset management company specializing in cryptocurrencies, has announced a new exchange-traded product (ETP) based on the Aptos (APT) Cryptocurrency.
This fund, which combines staking with a supporting spot structure, is designed to attract both institutional and retail investorsproviding them access through regulated markets.
The new ETP, scheduled for listing in the Swiss Stock Exchange SIX from November 19, 2024will be the first in the world to offer Aptos staking, according to a company statement.
Bitwise ensures that This fund will generate estimated staking returns of 4.7% annual.
Bitwise staking offering represents the second launch of its kind in Europe after the Ethereum-staking/” target=”_blank” rel=”noreferrer noopener”>ETC Group Ethereum Stakingwhich already exceeds $50 million in assets under management.
Let us remember that, according to the definition of the Cryptopediaeducational section of CriptoNoticias, staking is the act of leaving cryptocurrencies deposited in a smart contract in order to receive profits.
In addition to Switzerland, Bitwise plans to expand its Aptos ETP to other European exchanges, strengthening its presence on the continent and consolidating its leadership in cryptocurrency-based investment productsdetails the statement.
Hunter Horsley, CEO and co-founder of Bitwise, expressed the company’s excitement in expanding its offering into new digital assets: “With the launch of Bitcoin and Ethereum ETFs in the United States, a wide variety of investors have begun to investigate and add digital assets to their portfolios this year. “We are thrilled to launch the Bitwise Aptos staking ETP to expand access to one of the most exciting next-generation blockchains in the space.”
Aptos cryptocurrency price on the rise
The arrival of this fund could further favor the increase in APT, which has up 45% in the last weekgoing from 9.4 to 14 dollars before stabilizing at 12.3 dollars, as seen in the graph of TradingView.
APT price. Source: TradingView.
However, the crypto asset is still 35% below its all-time high of $19 reached in January 2023.
The good performance of the crypto asset is also influenced by a rebound in the bitcoin price (BTC) and, by drag effect, has also boosted other cryptocurrencies in the market, such as APT.
Bitcoin has broken several all-time records in the last week, reaching values close to $89,000.
The Aptos network is taken into account by other companies
Aptos is a layer 1 network based on the Move programming language, originally developed by a team working on the Diem project by Meta (formerly Facebook Inc).
Recognized for its high speed, Aptos has attracted the attention of financial institutions such as Franklin Templeton, who launched its fund OnChain US Government Money Fund (FOBXX) in this network, adding it to its repertoire of networks not compatible with the Ethereum Virtual Machine (EVM), as reported by CriptoNoticias.
In 2023, Aptos partnered with Microsoft for several years to expand global Web3 with Microsoft’s Azure OpenAI service and Aptos technology.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
