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Bitwise has launched the world’s first Aptos Staking exchange-traded product, offering staking rewards of approximately 4.7% net of fees.

Aptos soared 20% to $12.9 on Tuesday, Nov. 12, after U.S.-based fund manager Bitwise announced plans to debut the world’s first Aptos Staking ETP on the SIX Swiss exchange.

Set to launch on Nov. 19, the Bitwise Aptos Staking ETP under the APTB ticker will offer investors staking rewards of approximately 4.7% net of fees. Bitwise says the new product is designed for both “institutional and retail investors,” leveraging a custodian, auditor, administrator, and staking infrastructure. APTB will stake the underlying Aptos tokens, generating returns that will be accumulated directly within the ETP.

Bitwise chief executive Hunter Horsley says the firm decided to launch a new ETP after a “huge cross section of investors” have begun researching and adding digital assets to their portfolios following the launch of Bitcoin and Ethereum spot ETPs in the U.S.

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