No media attached. Please contact Pressat Wire for more information.
Safello’s TAO ETP listed on SIX Swiss Exchange
Safello, the leading crypto exchange in the Nordics, announces that the company has listed its physically backed and staked TAO Exchange Traded Product (ETP) on SIX Swiss Exchange. The ETP is now available for trading on European trading platforms and through online brokers.
The Safello-branded product, named Safello Bittensor Staked TAO ETP, is issued by DDA ETP AG under the partnership agreement entered into earlier this year, and is now listed on SIX Swiss Exchange and available for trading in US dollars. Trading begins at market open under the ticker STAO, with a management fee of 1.49%.
The Safello Bittensor Staked TAO ETP, which aims to provide investors with regulated exposure to Bittensor (TAO) in a familiar exchange-traded format, is 100% physically backed by staked TAO. Investors gain direct price exposure to TAO while also benefiting from on-chain staking rewards, net of service provider fees. These rewards are automatically reinvested into the product and reflected in its net asset value (NAV), enabling a total return structure.
As previously communicated, Safello will receive a revenue share based on assets under management (AUM), but the financial impact for Safello cannot yet be assessed.
Distributed by Pressat
No media attached. Please contact Pressat Wire for more information.