As a seasoned crypto investor with a keen eye for promising projects and a knack for spotting trends, I find myself intrigued by the latest developments surrounding Aptos. The news of a Spanish bank allocating 2% of its holdings to the Bitwise Aptos staking ETP is undoubtedly a significant step towards mainstream crypto adoption.
In simple terms, Hunter Horsley, the CEO of Bitwise, disclosed that a Spanish financial institution has invested 2% of its assets into the Bitwise Aptos staking exchange-traded product (ETP).
In a tweet, Horsley pointed out that the speed at which cryptocurrencies are being adopted is picking up as traditional banks increasingly cater to knowledgeable crypto investors. He highlighted this investment, made through one of their funds, as a substantial move towards mainstream acceptance of cryptocurrencies. The identity of the bank remains undisclosed for now.
In November of this year, Bitwise Asset Management introduced the first-ever exchange-traded product (ETP) for Aptos staking on Switzerland’s SIX Exchange. This investment tool is intended to offer a projected return of 4.7% by holding Aptos’ APT tokens as a stake, thereby giving investors a legal way to generate passive income by being part of blockchain activities.
At a pivotal time for cryptocurrency investment, the unveiling of this new product aligns with the existing market trends. Notably, Bitcoin and Ethereum Exchange-Traded Products (ETPs) based on spot trading have previously been launched within the U.S. market.
As an analyst, I’ve been observing a rising trend in network activity on Aptos lately. For instance, data gathered by Nansen indicates that the number of active addresses on the network surpassed 1.2 million this month.
The latest Electric Capital Developer Report for 2024 has listed Aptos as the second-swiftest expanding ecosystem regarding total developer engagement. By comparing data from the third quarter of 2023 to the fourth quarter of 2024, Aptos witnessed an impressive surge of 96% in its developer population.
Although there have been recent advancements, the price of APT hasn’t had a substantial increase. In fact, it has risen slightly by 1.4% in the last week and is currently trading at $14.19. On the other hand, several other cryptocurrencies have seen significant surges this month, but APT managed to gain only around 16.25% over the same timeframe.
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2024-12-13 22:28