Crypto ETP season? Safello, Deutsche Bank to launch first TAO ETP on SIX Swiss Exchange
Safello’s TAO ETP joins a new wave of crypto ETFs hitting global markets, with fresh Solana, Litecoin and Hedera fund launches across the US and Hong Kong.
Nordic crypto exchange Safello is entering the exchange-traded product market with the launch of the first-ever Bittensor (TAO) ETP, developed in partnership with Deutsche Digital Assets (DDA), a crypto asset manager backed by Germany’s Deutsche Bank.
The Safello Bittensor Staked TAO ETP (STAO) is scheduled to list on the SIX Swiss Exchange on Nov. 19, with a 1.49% management fee, according to a Wednesday announcement.
“This is an important milestone for our new business area,” said Emelie Moritz, CEO of Safello. “The Safello TAO ETP will, as the first product from Safello, increase accessibility to Bittensor – one of the most exciting networks at the intersection of blockchain and AI.”
