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Reveals Spanish Bank Allocates 2% to Aptos Staking ETP: Bitwise
Hunter Horsley, the CEO of Bitwise, has made a groundbreaking announcement. According to his tweet, a prominent Spanish bank has invested a significant portion of its holdings in the Bitwise Aptos staking exchange-traded product (ETP). The staggering allocation amounts to 2% of the bank’s assets.
This monumental decision marks a crucial step towards mainstream adoption of cryptocurrencies by traditional financial institutions. The investment was made through one of the bank’s funds, further solidifying its commitment to embracing blockchain-based technologies.
Bitwise Asset Management has been at the forefront of innovative crypto products, having launched the first-ever Aptos staking ETP on Switzerland’s SIX Exchange in November this year. This ETP is designed to generate a projected return of 4.7% by staking Aptos’ APT tokens, providing investors with a regulated means to earn passive income through participation in blockchain activities.
As the crypto investment landscape evolves, it becomes increasingly clear that institutional investors are becoming more willing to venture into digital assets. This recent allocation by a Spanish bank serves as a testament to this growing trend.
Furthermore, Aptos has been experiencing significant growth in its developer community. According to data compiled by Nansen, the network witnessed 1.2 million active addresses this month alone. Moreover, the Electric Capital Developer Report 2024 ranked Aptos as the second-fastest growing ecosystem with an astonishing 96% increase in overall developer activity between Q3 2023 and Q4 2024.
In contrast to its peers, APT’s spot price has not experienced significant growth recently. The token has only seen a modest 1.4% rise over the past week, trading at $14.19.
Source: cryptopotato.com
