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Safello to Launch Europe’s First Physically Backed TAO ETP

According to Safello, the ETP will list on SIX Swiss Exchange, Euronext Paris, Euronext Amsterdam, and Deutsche Börse Xetra, giving institutional and retail investors access to Bittensor’s native token TAO.

TAO

Summary

Swedish crypto exchange Safello announced plans to launch Europe’s first physically backed TAO exchange-traded product (ETP). The product is set to list on SIX Swiss Exchange, Euronext Paris, Euronext Amsterdam, and Deutsche Börse Xetra, offering institutional and retail investors access to Bittensor’s native token TAO.

Terms & Concepts
  • Exchange-Traded Product (ETP): A security that tracks an underlying asset and trades on a stock exchange, offering exposure without directly holding the asset.
  • Physically backed ETP: An ETP where the issuer holds the underlying asset to support the product, rather than using derivatives.
  • Bittensor (TAO): TAO is the native token of Bittensor; the ETP aims to provide investor access to TAO.