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Reveals Spanish Bank Allocates 2% to Aptos Staking ETP: Bitwise
A significant milestone has been achieved in the world of cryptocurrency as a Spanish bank has invested 2% of its holdings in the Bitwise Aptos staking exchange-traded product (ETP). This unprecedented move is a testament to the growing appetite for decentralized finance among traditional financial institutions.
Hunter Horsley, CEO of Bitwise, made this announcement on Twitter, emphasizing that the adoption of cryptocurrencies is gaining momentum as more and more financial establishments start integrating crypto-savvy investors. The investment in question was made by one of the bank’s funds, marking a crucial step towards mainstream cryptocurrency adoption.
It’s worth noting that Bitwise launched its first-ever Aptos staking ETP on Switzerland’s SIX Exchange in November this year. This innovative product is specifically designed to deliver an expected return of 4.7% through staking Aptos’ APT tokens. By participating in blockchain activities, investors can generate passive income.
The timing of this announcement couldn’t be more opportune, given the recent surge in network activity on Aptos. Data compiled by Nansen reveals that active addresses on the platform have reached a staggering 1.2 million this month alone. Furthermore, the Electric Capital Developer Report 2024 ranked Aptos as the second-fastest growing ecosystem with regards to overall developer activity. In the span of just one quarter (Q3 2023 to Q4 2024), the Aptos community witnessed an incredible 96% increase in its developer base.
Despite this remarkable growth, APT’s spot price has remained relatively steady, experiencing a minor uptick of only 1.4% over the past week and 16% during the same period.
Source: cryptopotato.com
