Asset administration firm Bitwise announced early Tuesday that it plans to roll out the first Aptos staking alternate-traded product (ETP) on Nov. 19, a transfer that expands the flexibility for retail and institutional possibilities to make investments within the Aptos ecosystem.

The product, scheduled to checklist on the SIX Swiss Alternate, is backed by Aptos’ native token, APT, and can stake underlying tokens to generate a yield of about 4.7% web of charges, in step with a press release.

APT has jumped 4.3% within the final 24 hours and 46.4% within the previous seven days to substitute at $12.forty eight, giving the cryptocurrency a market cap of $6.5 billion.

Bitwise’s announcement comes bigger than two years after the mainnet launch of Aptos, a layer 1 blockchain that has since garnered an all-time high of $1 billion in entire heed locked, in step with DefiLlama. Aptos also reached a file high in month-to-month active addresses in November at 8.4 million unprecedented onchain wallets, per blockchain analytics firm Artemis.

APT will also be making basically the most of a typical—but fully unrelated—tune named “APT” which was once no longer too prolonged ago launched by American singer-songwriter Bruno Mars and South Korean tune artist Rosé, who’s half of the KPOP neighborhood Blackpink.

“My bull case for Aptos is that $APT is a fireplace tune that’s been blowing up – which mentions the observe APT 60 instances. This amount of repeated publicity, the stimuli to the observe, is fantastic subliminal messaging. Insane marketing that pals jubilant, fun emotions with $APT,“ wrote one crypto particular person on X who goes by @0xPlutoo.

Every other X particular person jokingly quick that Aptos attain out to Rosé to make APT the protocol’s theme tune.

Bitwise can also be a provider of space ether and bitcoin ETFs within the US that indulge in a collective $2.7 billion in web property, files from SoSoValue reveals.