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Reveals Spanish Bank Allocates 2% to Aptos Staking ETP: Bitwise
Bitwise Asset Management has announced a significant development in the cryptocurrency market. According to CEO Hunter Horsley, a Spanish bank has allocated a substantial 2% of its holdings to the newly launched Bitwise Aptos staking exchange-traded product (ETP). This decision marks a crucial step towards mainstream crypto adoption.
The announcement was made through a tweet by Horsley, who emphasized that the investment was made through one of the bank’s funds. The CEO also highlighted the accelerating pace of cryptocurrency adoption as traditional financial institutions start to integrate more crypto-savvy investors.
It is worth noting that Bitwise launched the Aptos staking ETP on Switzerland’s SIX Exchange in November this year. This innovative product aims to deliver an expected annual return of 4.7% by allowing investors to stake Aptos’ APT tokens, effectively providing a regulated method for passive income generation through participation in blockchain activities.
The timing of this move is noteworthy, given the recent surge in interest and investment in the cryptocurrency space. Bitcoin and Ethereum spot ETPs have already been introduced in the United States, signaling a growing trend towards mainstream adoption. Meanwhile, data from Nansen indicates that active addresses on Aptos’ network reached 1.2 million this month alone.
Furthermore, the Electric Capital Developer Report 2024 ranked Aptos as the second-fastest growing ecosystem regarding overall developer activity. A staggering 96% growth was observed in the developer community between Q3 2023 and Q4 2024, marking a significant milestone for the platform.
Despite these developments, the spot price of APT has remained relatively stable, experiencing only a minor 1.4% rise over the past week, trading at approximately $14.19.
Source: cryptopotato.com
