APT soars 20% as Bitwise rolls out Aptos staking ETP on Swiss exchange

Bitwise has officially launched the world’s first Aptos Staking exchange-traded product (ETP), offering staking rewards of approximately 4.7% net of fees. This announcement came as Aptos (APT) surged 20%, reaching a price of $12.9 on Tuesday, November 12.

Scheduled for launch on November 19, the new Bitwise Aptos Staking ETP will trade under the APTB ticker on the SIX Swiss Exchange. The product is designed for both institutional and retail investors, allowing them to stake Aptos tokens while generating returns that will be accumulated directly within the ETP. Bitwise has partnered with custodians, auditors, administrators, and staking infrastructure to support the product.

Hunter Horsley, CEO of Bitwise, explained that the decision to launch the Aptos Staking ETP was driven by increasing interest from a wide range of investors, many of whom have begun adding digital assets to their portfolios following the launch of Bitcoin and Ethereum spot ETPs in the U.S. This new offering is the second product in Bitwise’s European Total Return suite, following the launch of the Ethereum Staking ETP earlier in 2024.

With the introduction of APTB, Bitwise now has a total of 10 ETPs in Europe, joining products like the Bitcoin ETP and Ethereum Staking ETP. The firm plans to expand the APTB listing to other European stock exchanges following its initial launch in Switzerland.