BlockBeats News, November 13, according to Cointelegraph, asset management firm Bitwise has launched the first exchange-traded product (ETP) holding staked APT, but ETPs listed in the United States are still prohibited from staking.
Bitwise stated that the Bitwise Aptos Stake ETP (APTB) will be listed on the Swiss SIX Exchange on November 19. It will be open to institutional and retail investors in Europe. The ETP 'is physically backed and will stake the underlying Aptos to generate a return of approximately 4.7% net of fees, which will accumulate directly within the ETP.' The market cap of APT is approximately $6.5 billion, with over 80% being staked. According to data from Coinbase, as of November 12, Aptos pays stakers about 7% in fees.
BlockBeats Note: An ETF (Exchange-Traded Fund) is a specific type of ETP, primarily used to track the performance of a specific index, commodity, or asset portfolio. An ETP (Exchange-Traded Product) is a broader concept that encompasses all trading products listed on trading platforms, including ETFs, ETNs (Exchange-Traded Notes), and other types of products.
