Spanish Financial Institution Allocates Portion to Cryptocurrency Investment Product

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

Hunter Horsley, CEO of Bitwise, has just announced that a Spanish bank has allocated 2% of its holdings to the Bitwise Aptos staking ETP. In a recent tweet, Horsley stated that the rapid adoption of cryptocurrencies is accelerating as traditional financial institutions integrate more crypto-savvy investors. He highlighted that this investment made through one of the bank’s funds marks a significant step towards mainstream crypto adoption.

The name of the bank has not been disclosed yet, but it is worth noting that Bitwise Asset Management launched the first-ever Aptos staking exchange-traded product (ETP) on Switzerland’s SIX Exchange in November of this year. This investment vehicle is designed to deliver an expected return of 4.7% by staking Aptos’ APT tokens, providing investors with a regulated method to earn passive income through participation in blockchain activities.

The news comes at a crucial period for crypto investments, as Bitcoin and Ethereum spot ETPs had already been introduced in the United States. Meanwhile, network activity on Aptos has seen an upward trend. Data compiled by Nansen shows that active addresses on the network reached 1.2 million this month. The Electric Capital Developer Report 2024 also ranked Aptos as the second-fastest growing ecosystem with regard to overall developer activity. A comparison of data from Q3 2023 to Q4 2024 reveals a whopping 96% growth in its developer community.

In contrast, APT’s spot price has not exhibited significant growth recently. In the past week, it only saw a slight increase of 1.4%, trading at $14.19.

Source: cryptopotato.com