Bitwise, a prominent asset manager in the digital asset space, has introduced the first-ever exchange-traded product (ETP) focused on staking Aptos (APT), the native token of the high-performance blockchain network. Set to list on Switzerland’s SIX Exchange on Nov. 19, this new product, known as the Bitwise Aptos Staking ETP (APTB), will be available to both institutional and retail investors across Europe.
Key Details of the Bitwise Aptos Staking ETP
The Aptos Staking ETP is designed as a physically backed product, meaning it holds actual Aptos tokens, which are staked directly to generate returns. The staking yield, net of fees, is projected to be around 4.7% annually, which is reinvested within the ETP. This ETP adds to Bitwise’s suite of European staking products, which also includes an Ethereum staking ETP.
Aptos, a layer-1 blockchain known for its scalability and focus on decentralized applications, has quickly gained traction since its 2022 launch. With over 250 projects and 1.7 billion transactions already processed, Aptos has attracted major corporate partnerships, including with Microsoft, Amazon, Mastercard, and Coinbase. Currently, Aptos has a market capitalization of $6.5 billion, with approximately 80% of its supply staked, offering around 7% returns to stakers.
Expanding Market for Staking ETPs in Europe
While the European market is actively expanding its range of crypto products, including staking ETPs, the U.S. regulatory environment has been more restrictive. Staking-based ETPs remain prohibited in the United States, though regulatory shifts may be on the horizon. Analysts speculate that changes in U.S. policy could open the door to staking ETPs, especially as more issuers await approval for diverse crypto index ETFs and other asset-backed products.
Bitwise’s Strategic Focus on Crypto ETPs
Bitwise has been expanding its offerings with both staking ETPs and exchange-traded funds (ETFs) in Europe, taking advantage of a more open regulatory climate compared to the U.S. The Aptos Staking ETP represents another step forward in its commitment to providing innovative crypto products tailored to the needs of European investors. This launch reflects Bitwise’s continued confidence in the growth of blockchain networks and the long-term value of staking-based products for generating consistent returns.
Looking Ahead: Potential Regulatory Shifts in the U.S.
As the U.S. crypto landscape evolves, market participants are optimistic that ETPs involving staking and other altcoins could soon gain approval. With Coinbase recently launching a new index for tracking 50+ digital assets, the potential for future index ETPs in the U.S. is expanding. The coming years may see significant changes as regulatory bodies reassess their stance on crypto-related financial products, which could make similar staking ETPs available stateside.
