Bitwise Asset Management is ushering in a new era of altcoin investments. The world’s first Aptos Staking ETP, Bitwise Aptos Staking ETP (APTB), will begin trading on the SIX Swiss Exchange on November 19, 2024. This new product aims to generate 4.7% returns on staked assets on the Aptos blockchain.

According to a press release published today, Bitwise is launching the world’s first Aptos-focused ETP. Aptos is a Layer 1 blockchain that supports high-performance, enterprise-level applications and will enter the market in 2022. Aptos has grown rapidly thanks to its low transaction costs and high transaction speeds, reaching over 8 million active users. Developed by an experienced team involved in Meta’s blockchain project, Aptos is also backed by major investors such as Andreessen Horowitz, Apollo Global Management, and PayPal Ventures.

According to Bitwise, the Aptos Staking ETP is designed to provide broader access to the Aptos ecosystem. This ETP aims to generate a 4.7% net return on staked assets. Staking allows token holders to use their assets for transaction validation on Proof of Stake (PoS)-based blockchains. This process increases the security of the blockchain while token holders earn additional token rewards. Staking offers a mechanism similar to dividend payments on stocks.

Bitwise CEO Hunter Horsley said the following about this new product:

“At Bitwise, we have been a pioneer in bringing opportunities to investors in the crypto asset class for seven years. With the launch of Bitcoin and Ethereum spot ETPs in the US, many investors have started to add space to their portfolios for crypto assets. Now, we are delighted to offer investors access to Aptos, an exciting next-generation blockchain, with the Bitwise Aptos Staking ETP.”

Bitwise’s 10th ETP in Europe is an important part of the company’s expanding product portfolio. With successful products in Europe such as the most liquid physically-backed Bitcoin ETP (BTCE) and the Ethereum Staking ETP (ET32), Bitwise is listing the Aptos Staking ETP. Following the listing of APTB, Bitwise plans to make the ETP available for trading on other major European exchanges.

With this development, Aptos (APT) price rose due to both market optimism and ETP news. APT, which is ranked 20th in terms of market value, increased by 21% from $10.73 to $13.99. It is currently trading at $13.11. APT is trading 35% below its all-time high of $19.90. The potential to reach this level again will be revealed in the future.

This move by Bitwise is likely to be an important step for the future of Aptos and will also increase interest in altcoin investments.