Spanish Financial Institution Invests in Cryptocurrency ETP for Passive Income Generation

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

In a significant move, Hunter Horsley, CEO of Bitwise, has announced that a major Spanish bank has allocated 2% of its holdings to the newly launched Bitwise Aptos staking exchange-traded product (ETP). The announcement is considered a milestone in mainstream cryptocurrency adoption, as a traditional financial institution invests directly in a crypto asset for passive income.

The Bitwise Aptos staking ETP was introduced on Switzerland’s SIX Exchange in November of this year. This innovative investment vehicle allows investors to participate in the growth and potential returns of the Aptos ecosystem by staking its APT tokens, thereby generating passive income through blockchain activities.

According to Horsley, this significant allocation marks a major step towards mainstream crypto adoption as traditional financial institutions integrate more crypto-savvy investors into their portfolios. Although the name of the bank remains undisclosed for now, it highlights that established financial entities are increasingly recognizing the potential and value of cryptocurrency assets.

The development comes at a crucial time in the world of crypto investments. Following the introduction of Bitcoin and Ethereum spot ETPs in the United States, this move solidifies the growth of institutional investment in cryptocurrencies like Aptos. The 96% increase in developer activity between Q3 2023 and Q4 2024, as reported by Electric Capital Developer Report 2024, further reinforces the credibility of the Aptos ecosystem.

Despite the recent uptrend in network activity, APT’s spot price has remained relatively stable, experiencing only a slight gain of around 1.4% over the past week, trading at $14.19.

Source: cryptopotato.com