Spanish Financial Institution Allocates Funds to Cryptocurrency-Related Investment Product

Reveals Spanish Bank Allocates 2% to Aptos Staking ETP: Bitwise

According to recent updates, a significant allocation has been made by a prominent Spanish bank. It is worth noting that the allocation is directed towards the Bitwise Aptos staking exchange-traded product (ETP). As per reports, this bank has chosen to allocate an impressive 2% of its holdings to the ETP.

As reported by CEO Hunter Horsley of Bitwise, the increasing mainstream adoption of cryptocurrencies is a direct result of traditional financial institutions integrating more crypto-savvy investors. It is essential to note that the investment was made through one of the bank’s funds and thus marks an important step in the direction of widespread cryptocurrency adoption.

The Aptos staking ETP, which launched on Switzerland’s SIX Exchange in November this year, aims to provide a regulated method for investors to earn passive income by participating in blockchain activities. The product is designed to deliver a return of 4.7% through the staking of Aptos’ APT tokens.

It is crucial to understand that the launch of this ETP takes place at a time when Bitcoin and Ethereum spot ETPs have already been introduced in the United States. Furthermore, network activity on Aptos has been trending upward. As per data compiled by Nansen, active addresses on the network reached 1.2 million this month.

The newly released Electric Capital Developer Report 2024 ranked Aptos as the second-fastest growing ecosystem in terms of overall developer activity. It is worth noting that comparing data from Q3 2023 to Q4 2024 reveals a staggering 96% growth in the number of developers on Aptos network.

Despite recent developments, APT’s spot price has not seen significant movement. In the past week, it merely experienced a slight increase of approximately 1.4%, trading at $14.19.

Source: cryptopotato.com