Bitwise Asset Management is set to debut its first exchange-traded product (ETP) in Europe with the launch of the Bitwise Aptos Staking ETP (APTB), scheduled to list on the SIX Swiss Exchange on November 19. The ETP, with an expense ratio of 0.85%, will track the Compass Aptos Total Return 90% Index, providing exposure to the Aptos blockchain as well as additional staking rewards.
Aptos, launched in 2022, is a proof-of-stake blockchain that utilizes smart contracts to automate blockchain transactions. Staking allows cryptocurrency holders to deposit assets on the blockchain to help validate transactions, with the promise of rewards returned to investors.
The Bitwise Aptos Staking ETP offers a staking reward of 4.7%, which will be reinvested within the product. This move marks Bitwise’s first ETP since its acquisition of ETC Group in August, signaling the firm’s growing presence in the European market.
“We are thrilled to now be able to launch the Bitwise Aptos Staking ETP to expand access to one of the most exciting next-generation blockchains in the space,” said Hunter Horsley, CEO and co-founder of Bitwise.
Bradley Duke, head of Bitwise Europe, emphasized that the ETP is tailored for forward-thinking institutional investors and crypto-savvy individuals seeking exposure to Aptos through a regulated investment product. “We are excited to introduce APTB via a primary listing on SIX Swiss Exchange,” he added.
The launch of APTB comes on the heels of Bitwise’s success in the U.S. market, where its Bitwise Bitcoin ETF (BITB) has accumulated $3.2 billion in assets since its inception. Overall, Bitwise manages $2.82 billion across seven U.S.-listed ETFs, with an average expense ratio of 0.72%.
ETC Group, which was acquired by Bitwise in August, has also been active in the crypto ETP space, launching an Ethereum staking ETP earlier this year, as well as an innovative Bitcoin ETP that tracks its net asset value (NAV) three times daily to enhance liquidity across global markets.
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