Bitwise Plans to Launch an Aptos Staking ETP

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Bitwise has announced the launch of the first ever staking exchange-traded product, featuring the Aptos currency, on the SIX Swiss Exchange in Switzerland.

This launch follows the acquisition of London-based ETC Group by the US crypto specialist just a few months ago.

The Bitwise Aptos Staking ETP (APTS) will become the tenth ETP in the EU and will be available for trading on Nov. 19. APTS is backed by physical assets and will stake the underlying Aptos (APT) currency, generating a return of approximately 4.7% after fees.

ETPs, also known as exchange-traded products, are investment products listed on exchanges, similar to ETFs. This new product is the second in Bitwise’s European Total Return suite, following the successful launch of ET32, which has surpassed $50 million in assets under management.

Aptos, launched in 2022 by the team behind Meta’s blockchain initiative, is a popular Layer 1 blockchain with over eight million monthly users and has received attention from venture capitalists.