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Reveals Spanish Bank Allocates 2% to Aptos Staking ETP: Bitwise
In a significant development in the world of cryptocurrency and banking, a Spanish bank has allocated a substantial 2% of its holdings to the Bitwise Aptos staking exchange-traded product (ETP). This move underscores the accelerating adoption of cryptocurrencies by traditional financial institutions.
According to a tweet by Hunter Horsley, CEO of Bitwise, this investment marks a major step towards mainstream crypto acceptance. He emphasized that the integration of cryptocurrencies with more crypto-savvy investors is rapidly gaining momentum. The Spanish bank made this allocation through one of its funds, although it remains unnamed at this time.
The launch of the Bitwise Aptos staking ETP on Switzerland’s SIX Exchange in November 2024 has provided a regulated method for investors to earn passive income by participating in blockchain activities. This product is designed to deliver an expected return of 4.7% through staking Aptos’ APT tokens.
Aptos, being one of the fastest-growing ecosystems, has seen a significant surge in its developer community. As per data compiled by Nansen, active addresses on the network have surpassed 1.2 million this month. Additionally, Electric Capital’s Developer Report 2024 placed Aptos as the second-fastest growing ecosystem regarding overall developer activity, with a staggering 96% growth recorded between Q3 2023 and Q4 2024.
Despite the recent upsurge in Aptos’ developer community and network activity, its spot price has not seen a substantial increase. In the past week, it experienced a modest rise of approximately 1.4%, trading at $14.19 while many other cryptocurrencies have witnessed significant growth.
Source: cryptopotato.com
