As a seasoned researcher with a knack for deciphering the intricacies of the blockchain world, I find the recent development of Bitwise’s Aptos Staking ETP (APTB) quite fascinating. Having closely followed the evolution of cryptocurrencies and their underlying technologies, it’s clear that this move signifies a significant step towards mainstream adoption of digital assets.
According to a recent announcement on November 12th, asset management firm Bitwise introduced an exchange-traded product (ETP) that invests in APT, the native token of the Aptos network, marking it as the first ETP of its kind.
Starting November 19th, the Bitwise Aptos Staking Token (APTB) will become accessible for trading on the SIX Swiss Exchange. This includes both institutional and individual European investors.
According to Bitwise, the ETP is asset-backed and will securely hold the underlying Aptos coins to provide estimated annual returns of around 4.7%, with these earnings being automatically stored within the ETP itself.
Bitwise’s APTB is the second offering within their European Total Return product lineup, encompassing alongside it a Staking Exchange-Traded Product (ETP) focused on Ethereum (ETH).
Bitwise lists exchange-traded funds (ETFs) for Bitcoin (BTC) and ETH in the United States.
Aptos represents a robust, layer 1 blockchain platform that debuted in 2022, specifically engineered to accommodate large-scale decentralized apps (Dapps) for enterprises.
According to Bitwise, the network currently boasts over 8 million regular users who are actively involved each month. It also accommodates approximately 250 different projects and has successfully processed around 1.7 billion transaction settlements.
According to Bitwise’s statement on the X platform, Aptos is being utilized by companies such as Microsoft, Amazon, Mastercard, Coinbase, and others.
Approximately 80% of the total value of APT, currently standing at around $6.5 billion, is locked in staking. As per Coinbase’s recent data, Aptos rewards its stakers with a yield of roughly 7%.
Trump’s presidency has provided a go-ahead for over a dozen proposed cryptocurrency Exchange Traded Funds (ETFs) that are currently awaiting regulatory approval to be listed in the United States.
They include ETFs holding altcoins, including Solana SOL, XRP XRP, and Litecoin LTC, among others.
US ETFs currently do not permit staking, but this policy might be revised following Donald Trump’s victory on November 8th.
Trump is expected to loosen restrictions on cryptocurrency products, CryptoMoon Research said.
Cryptocurrency issuers are holding their breath, as they await the green light for multiple proposed ETFs (Exchange-Traded Funds) that will store a variety of cryptocurrencies.
As a researcher, I’m excited to share that Coinbase, a leading crypto exchange, has unveiled a fresh benchmark index. This innovative index covers over 50 digital assets, paving the way for potential increases in index Exchange Traded Fund (ETF) launches within the U.S. market.
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2024-11-12 20:49