Important highlights:
- Bitwise offers regulated exposure to Avax with integrated staking rewards.
- This ETP product can be traded on Deutsche Börse Xetra Exchange with full facility grade custody.
- This product offers daily incursions staking rewards with a net yield of 4.83% and a low total cost ratio of 0.85% per year.
Bitwise has released the Bitise Avalanche Staking ETP (ticker: AVNB, ISIN: DE000A4APQX6) at Deutsche Börse Xetra Exchange. This is fully supported by actual cryptocurrencies and is added to existing European products that follow the crypto index. This new Exchange trading product allows investors to safely invest in Avaxe, Avalanche’s main token. This is a popular blockchain known to be fast, energy efficient, scalable and low transaction costs.
Product features and institutional appeal
According to a press release, the product is being developed for investors who want a safe and regulated way to make money from Avax tokens. This product is supported and kept secure with professional German cold storage. Investors earn staking rewards daily after fees added directly to the product.
ETP products can be easily bought and sold on Xetra, just like regular stock and ETFs. The ETP product buying and selling process does not require a special crypto wallet or account. This makes it easier to access and invest.
ETP uses the CF Avax Staked Return Index as a benchmark, so investors can see how it works when compared to the market, which includes both Avax price changes and staking rewards. The expected annual staking fee is around 4.83% and the annual fee is 0.85%, making it a cost-effective way to earn from Avax Staking.
Bradley Duke, head of Europe at Bitwise, emphasizes that this ETP product is built to meet the exact needs of professional investors’ standards. In his statement, Duke pointed out that, as mentioned above, the avalanche is fast, energy efficient and scalable. It is used in areas such as payments, Ministry of Finance, event tickets, collectibles, games and more.
Duke also said that Bitwise’s main purpose is to enable institutional investors to access these digital assets through high-quality regulated products that simplify their investment in new blockchain projects.
Avalanche Blockchain Background
Avalanche uses a system known as the avalanche consensus mechanism. This allows people to create their own custom blockchains, such as governance, rules, performance needs, and more, while connecting to the broader world of crypto. This platform is increasingly used in financial, payments and everyday apps. All of these use cases make the avalanche a promising blockchain for professional and institutional crypto products.
Industry support
John Wu, president of AVA Labs (the team behind Avalanche), praised the company for making it easier for regular investors to acquire digital assets in a safe and regulated way. He said that using regulated markets like Xetra will help more and more people join the avalanche ecosystem and support innovation and growth in areas such as finance, payments and tokenized real-world assets.
Hunter Horsley, CEO of Bitwise, shared his excitement on the X-Post. He welcomed October and announced the launch of a new ETP. He expressed excitement about giving European investors a secure, regulated way to invest in crypto, highlighting Bitwise’s work to make digital assets more accessible.
As soon as news broke, the price of the Avax Token experienced a slight increase. At press, the token price was $30.71, with a rise of 4.6% according to Coingecko.
The launch of the Bitise Avalanche Staking ETP and the recent rise in avax prices indicate that avalanches are a powerful and efficient blockchain. Such regulated products make it easier and safer for people to invest in crypto and increase adoption. Such systems help ecosystems grow and innovate further.
Also Read: Metaplanet Bitcoin Holdings reaches 30,823 BTC amid strong Q3 revenue growth