Deutsche Digital Assets in collaboration with Safello has listed the Safello Bittensor Staked TAO ETP (ISIN: DE000A4APQY4; WKN: A4APQY, Ticker: STAO) on SIX Swiss Exchange under the ticker STAO and has started trading in US Dollar.
Safello Bittensor Staked TAO ETP is 100 per cent physically backed by Bittensor (“TAO”) and is held in “cold storage” at a regulated crypto custodian. The firm writes that the Safello Bittensor Staked TAO ETP provides a simple, regulated and secure way for investors to gain exposure to Bittensor at a total expense ratio of 1.49 per cent while simultaneously enjoying staking returns accumulated in the NAV of the product. The product is designed to meet the needs of both retail and institutional investors looking to diversify portfolios and participate in the digital asset economy through a familiar, regulated format.
The Safello Bittensor Staked TAO ETP is a total return ETP that tracks the Kaiko Safello Staked Bittensor Index (KSSTAO Index). The ETP has a maximum management fee of 1.49 per cent p.a.. In addition to TAO’s price movements, investors in STAO earn the full TAO staking rewards (less service provider fees), which are accumulated daily in the NAV. Rewards earned are reinvested into the ETP, further benefitting investors.
“The listing of the Safello Bittensor Staked TAO ETP on the SIX Swiss Exchange in USD is a significant milestone for DDA’s white label platform and a testament to our commitment to structured digital asset innovation. As an issuer focused on providing institutional-grade access, we are proud to bring a product to market that captures the unique investment thesis of Bittensor – the convergence of decentralised AI and blockchain – within a familiar and regulated ETP wrapper.” says Maximilian Lautenschläger, CEO and founder of DDA.
“I am immensely proud of Safello for bringing the world’s first exchange-traded product backed by staked TAO to SIX Swiss Exchange. This marks a historic milestone for the entire Bittensor ecosystem, lowering the barriers to TAO adoption for both retail and institutional investors worldwide. Bittensor, with its native token TAO, is laying the foundation for a decentralised future of AI and we are happy to be a part of this journey. By staking the underlying TAO, we are happy to contribute to the network’s security and consensus mechanism, and at the same time providing a higher yield for the investors,” says Emelie Moritz, CEO at Safello.
Kaiko’s CEO Ambre Soubiran adds: “We are delighted to collaborate with Safello and DDA as this product lists on SIX. Kaiko’s role is to deliver transparent and dependable benchmarks, and we are pleased that the Kaiko Safello Staked Bittensor Index can support the launch of this ETP on a major European exchange.”
The ETP is 100 per cent physically backed, with Bittensor, securely held in cold storage by an institutional-grade custodian. Investors can buy and sell the product during regular trading hours, just like any other listed security.
newETFs.io respects the hard work of others and gives all credit to the remarkable folks at ETFexpress.com. This excerpt/article was pulled from their RSS feed; click here to view the original. Please note that on occasion, the RSS feed will not have the author. When this happens this site defaults the author to "News". Make no mistake, this excerpt/article was not created by newETFs.io, it was simply shared with you.
