Crypto ETP season? Safello, Deutsche Bank to launch first TAO ETP on SIX Swiss Exchange
Safello and Deutsche Bank's DDA are launching the first Bittensor (TAO) ETP on the SIX Swiss Exchange on November 19.Summary
Nordic crypto exchange Safello, in partnership with Deutsche Digital Assets (DDA), a crypto manager backed by Deutsche Bank, is launching the first-ever Bittensor (TAO) Exchange-Traded Product (ETP). The Safello Bittensor Staked TAO ETP (STAO) is set to list on the SIX Swiss Exchange on November 19, carrying a 1.49% management fee. The product is issued by DDA ETP AG and is backed by TAO tokens held in cold storage with a regulated custodian, automatically reinvesting staking rewards into the product's Net Asset Value (NAV). Safello views this as a major step in increasing accessibility to Bittensor, an exciting network at the intersection of blockchain and AI. DDA noted the launch aligns with its strategy to act as both an independent crypto ETP issuer and a white-label partner, enabling others to bring compliant crypto investment strategies to market. This launch occurs amidst a broader surge in crypto ETP/ETF activity, including the debut of Bitwise’s Solana Staking ETF.
(Source：Cointelegraph)