Summary
- Deutsche Digital Asset (DDA) and Deutsche Bank announced they will launch the world's first BitTensor (TAO)-based exchange-traded product (ETP).
- The product is scheduled to be listed on the Swiss SIX exchange on November 19, and the management fee was reported to be set at 1.49% per annum.
- They said this ETP launch coincides with the recent trend of global crypto ETF launches.
Nordic crypto exchange Safello has teamed up with German asset manager Deutsche Digital Asset (DDA) and Deutsche Bank to launch the world's first BitTensor (TAO)-based exchange-traded product (ETP).
According to Cointelegraph on the 29th (local time), the 'Safello BitTensor Staking TAO ETP (STAO)' will be listed on the Swiss SIX exchange on November 19, and the management fee was set at around 1.49% per year.
Emelie Moritz, CEO of Safello, said, "This launch will be an important milestone opening a new business area for Safello," adding, "STAO will increase accessibility to BitTensor, one of the most exciting projects at the intersection of blockchain and artificial intelligence (AI)."
This BitTensor ETP launch coincides with the recent trend of global crypto ETF launches. This week, Bitwise (BITWISE)'s Solana staking ETF (BSOL) launched with USD 222.8 million, and Canary's Litecoin (LTC) and Hedera (HBAR) ETFs are also due to be listed.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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