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Safello Bittensor Staked TAO ETP (STAO) has been listed on Nasdaq Stockholm. The exchange-traded product provides exposure to Bittensor’s TAO token. Safello partnered with DDA ETP AG (Deutsche Digital Assets) to issue the ETP.
STAO is available for trading in Kronor. It was previously listed on the SIX Swiss Exchange in US dollars.
The ETP is 100% physically backed by TAO tokens held in cold storage. Staking rewards are reinvested with the aim of enhancing the net asset value.
Year-to-Date returns for STAO are reported at +27.59%.
Founded in 2013, Safello is a Nordic crypto exchange that reports around 423,000 users. It operates under the European MiCA regime. Safello Group AB, the parent company, has been listed on Nasdaq First North Growth Market since 2021.
Frank Schuil, co-founder and CEO at Safello, said 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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