Hunter Horsley, CEO of Bitwise, announced that a Spanish bank has allocated 2% of its holdings to the Bitwise Aptos staking ETP.
In a tweet, Horsley stated that the adoption of cryptocurrencies is accelerating as traditional financial institutions integrate more crypto-savvy investors. He noted that the investment, made through one of the bank’s funds, marks a significant step toward mainstream crypto adoption. The name of the bank has not been disclosed yet.
Bitwise Asset Management launched the first-ever Aptos staking exchange-traded product (ETP) on Switzerland’s SIX Exchange in November of this year. This investment vehicle is designed to deliver an expected return of 4.7% by staking Aptos’ APT tokens, providing investors with a regulated method to earn passive income through participation in blockchain activities.
The launch of this product comes at a crucial period in the world of crypto investments, as Bitcoin and Ethereum spot ETPs had been already introduced in the United States.
Meanwhile, network activity on Aptos has been on an uptrend. Data compiled by Nansen, for instance, revealed that active addresses on the network hit 1.2 million this month.
The newly released Electric Capital Developer Report 2024 also ranked Aptos as the second-fastest growing ecosystem in terms of overall developer activity. Comparing data from Q3 2023 to Q4 2024, Aptos experienced a whopping 96% growth in its developer community.
Despite the recent developments, APT’s spot price has not experienced a significant uptick. In the past week, it saw a slight rise of 1.4%, trading at $14.19.While many other crypto assets have experienced significant rallies this month, APT only gained a little over 16% during the same period.
