Bitwise CEO Hunter Horsley reveals that a Spanish bank has invested an impressive 2% of its holdings in the Bitwise Aptos staking ETP.
This comes as the crypto industry witnesses massive indoctrination into the mainstream financial system. Widespread adoption among countries and public firms has enhanced its course to become a leading economic vehicle.
According to Hunter Horsley, the CEO of Bitwise, the mainstream curve has just begun. In an X tweet, he insisted that cryptocurrencies would see more adoption as more crypto-savvy investors are starting to populate traditional financial institutions.
Spanish Bank Allocates 2% to Bitwise Aptos ETP
Notably, Horsley confirmed that an undisclosed Spanish bank has invested in the Bitwise Aptos staking exchange-traded product (ETP). The CEO noted that the financial institution has allocated 2% to the investment product through one of its funds.
For context, the Bitwise Aptos ETP (APTB) trades on the Swiss-based SIX exchange, offering investors alternative access to the cryptocurrency. APT is the native token of Aptos, a layer 1 blockchain that focuses on scalability and security.
The Aptos ETP tracks APT’s performance and offers additional staking rewards to holders of the investment vehicle. Furthermore, Bitwise backs the Aptos ETP with a corresponding APT in cold storage, enhancing its credibility.
Crypto Nears Mainstream Era
Remarkably, cryptocurrency is nearing mainstream adoption as Donald Trump’s stance on the sector has drawn global attention. More appealing is the US president-elect’s promise to create a US Bitcoin stockpile.
Notably, cryptocurrencies have seen massive buy-ins since then, as global investors expect the asset to thrive under the incoming US administration. The FOMO (fear of missing out) fever has caught up with countries like Russia, Brazil, and, most recently, Canada’s Vancouver city.
Nonetheless, the pent-up demand for cryptocurrencies has reflected in their prices, with Bitcoin leading a broader market bullish upsurge. Interestingly, the pioneering asset has sustainably traded above the $100,000 price mark, recording its highest-ever closing on Wednesday.