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Deutsche Digital Assets and Safello to Launch Staked Bittensor ETP on SIX Exchange

The STAO product will offer exposure to TAO cryptocurrency and reinvested staking rewards, with trading expected to start within weeks.

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Summary

Deutsche Digital Assets and Safello announced plans to launch the Safello Bittensor Staked TAO ETP (STAO) on the SIX Swiss Exchange in the coming weeks. The product is physically backed by TAO tokens in cold storage and tracks the Kaiko Safello Staked Bittensor Index, offering returns from both price movements and automatically reinvested staking rewards. TAO is linked to Bittensor, a decentralized AI network. The ETP has a maximum fee of 1.49%. The launch follows increasing institutional interest in crypto-AI convergence and recent moves in the stablecoin sector, with Western Union set to launch its Solana-based USDPT stablecoin next year.

Terms & Concepts
  • Exchange-Traded Product (ETP): A financial instrument traded on stock exchanges that derives its value from underlying assets such as cryptocurrencies, commodities, or indices.
  • Bittensor (TAO): A decentralized network for artificial intelligence that rewards contributors with TAO tokens for providing data and computing power.
  • Staking Rewards: Earnings received by participating in network validation or other blockchain consensus activities, typically paid in the native token of the network.