Safello Bittensor Staked TAO ETP (STAO) has listed on Nasdaq Stockholm. The ETP provides exposure to Bittensor (TAO). Safello partnered with DDA ETP AG (Deutsche Digital Assets) to issue the ETP.
Founded in 2013, Safello is a Nordic crypto exchange that reports around 423,000 users. It operates under the European MiCA regime. The parent company, Safello Group AB, has been listed on Nasdaq First North Growth Market since 2021.
STAO is available for trading in Kronor but it was previously listed on the SIX Swiss Exchange in US dollars.
STAO is 100% physically backed by TAO tokens held in cold storage. Staking rewards are reinvested that aims to enhance the net asset value.
Year-to-Date returns are reported at +27.59%.
Frank Schuil, co-founder and CEO at Safello sais Bittensor has a clear lead in the decentralized AI sector.
“This cross-listing on Nasdaq Stockholm takes the TAO ETP to Safello’s home markets where retail customers and institutional investors can allocate capital in what I see as the most exciting blockchain protocol since Bitcoin while earning staking rewards.”
Safello receives a revenue share based on assets under management (AUM), but the financial impact for Safello reportedly cannot yet be assessed.
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