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Reveals Spanish Bank Allocates 2% to Aptos Staking ETP: Bitwise
In a recent tweet, Hunter Horsley, CEO of Bitwise, has revealed that a major Spanish bank has allocated 2% of its holdings to the Bitwise Aptos staking exchange-traded product (ETP). This significant move marks a critical step towards mainstream adoption of cryptocurrencies in the financial sector.
The unnamed bank reportedly made this investment through one of its funds. Notably, Bitwise Asset Management launched the first-ever Aptos staking ETP on Switzerland’s SIX Exchange just last month. The innovative product aims to deliver an expected return of 4.7% by staking Aptos’ APT tokens, offering investors a regulated method to generate passive income through participation in blockchain activities.
The news comes amid accelerating adoption trends in the cryptocurrency market. Notably, Bitcoin and Ethereum spot ETPs have already been introduced in the United States, while other notable players in the space are seeing significant growth. Meanwhile, Aptos network activity continues to rise. Data from Nansen indicates that active addresses on the platform reached 1.2 million this month.
Furthermore, the latest Electric Capital Developer Report 2024 ranked Aptos as the second-fastest growing ecosystem with regards to overall developer activity, witnessing a staggering 96% growth in its developer community between Q3 2023 and Q4 2024.
Despite this promising growth, APT’s spot price has not experienced a significant upswing. In the past week alone, it saw a moderate increase of just 1.4%, trading at $14.19.
Source: cryptopotato.com
