Safello Debuts World’s First Staked TAO ETP in Switzerland

Safello, a cryptocurrency exchange based in the Nordics, has launched the Safello Bittensor Staked TAO ETP on the SIX Swiss Exchange. The product began trading today and is tagged against the U.S. dollar. Investors across Europe can now access it through major trading platforms and online brokers, giving them a new way to gain exposure to Bittensor’s TAO token in a regulated format.

A Simple Way to Access Staked TAO

The ETP is issued by DDA ETP AG, a company that builds and manages exchange-traded products under a partnership formed earlier this year, and trades under the ticker STAO with a 1.49% management fee. It also provides regulated access to Bittensor’s TAO token for both retail and institutional investors.

According to the company, investors who buy the ETP gain exposure to the price of TAO and can earn staking rewards. These rewards are automatically added back into the ETP, which increases its net asset value (NAV) over time. Safello holds the staked TAO in cold storage through a regulated custodian, meaning investors do not need to manage staking or blockchain operations themselves.

“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,” said Maximilian Lautenschläger, CEO of DDA.

Additionally, Safello will earn a share of revenue based on the ETP’s assets under management. The firm said the financial impact will depend on how many investors adopt the product and the market performance of TAO.

Emelie Moritz, CEO of Safello, said, “This is the world’s first exchange-traded product backed by staked TAO.” She added, “It lowers the barriers for investors and supports the growth of the entire Bittensor ecosystem.”

The ETP uses the Kaiko Safello Staked Bittensor Index (KSSTAO) as its benchmark, which tracks both the price of TAO and the staking rewards it produces.

In short, the ETP is designed as a total return product, combining price appreciation and reinvested staking rewards. Investors can buy and sell the product during regular trading hours, just like any listed security.

Bittensor’s TAO token is known for its staking system, which helps secure the network and rewards participants. The ETP brings this process into a regulated structure and makes it easier for traditional investors to take part in.

Safello has served over 418,000 users in the Nordics since the firm was founded in 2013. The company is authorized under MiCA in Sweden and has been listed on the Nasdaq First North Growth Market since 2021.

The launch comes at a time when digital asset products saw $2 billion in outflows, according to CoinShares, but the new ETP offers a regulated option for investors seeking crypto exposure with added staking benefits.

TAO Drops Below $350

This launch also coincides with a market decline. Bittensor (TAO) has fallen 11% in seven days. At the time of writing, the token is trading at around $312, down 6% in the last 24 hours and down from its intraday high of $359.

Trading volume is down by 29% to $198 million. As a result, the market cap has fallen 6.42% and now sits at $3.23 billion, according to CoinMarketCap.

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