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Swedish Exchange Partners with Deutsche Bank Subsidiary to Launch Groundbreaking BitTensor-Based ETP
Swedish digital asset exchange Safello has joined forces with Deutsche Digital Assets (DDA), the crypto-focused asset management subsidiary of Deutsche Bank, to unveil the world’s first exchange-traded product (ETP) based on BitTensor (TAO). Named the "Safello BitTensor Staked TAO ETP (STAO)," this innovative product is set to debut on the SIX Swiss Exchange on November 19, as reported by Cointelegraph on October 29. The ETP will feature an annual management fee of 1.49%.
Safello CEO Emelie Moritz expressed her enthusiasm for the launch, stating, "STAO signifies a pivotal breakthrough for us in exchange-traded products, making BitTensor’s cutting-edge AI and blockchain ecosystem accessible to a broader investment audience."
Cutting-Edge Features: Cold Wallet and Automatic Staking Rewards
STAO will be issued by DDA ETP AG and backed by real BitTensor (TAO) tokens, which serve as the underlying asset. These tokens will be securely stored within a cold wallet managed by a regulated custody service, ensuring maximum security for investors. Moreover, the tokens earn staking rewards, which will be automatically reinvested, contributing to an increase in the ETP’s net asset value (NAV)—a particularly attractive feature for growth-focused investors.
A representative from DDA emphasized the significance of this launch, remarking, "This product underlines DDA’s leadership as an independent issuer of crypto ETPs. It also demonstrates our commitment to white-label solutions that empower partners to innovate within the investment landscape."
BitTensor: Revolutionizing AI with Blockchain Technology
BitTensor (TAO), the centerpiece of this new investment vehicle, is a decentralized, open-source machine learning network that enables developers to design and monetize AI models outside of centralized platforms. Operating on a specialized subnet structure tailored for AI, the ecosystem incentivizes contributors such as developers, validators, and miners with TAO tokens for their participation and input into its expansive network.
Chris Miglino, co-founder of DNA Fund, highlighted BitTensor’s transformative potential, declaring, "Decentralized AI networks will drive the next leap forward in technological evolution. BitTensor has the potential to redefine AI similarly to how Bitcoin revolutionized financial and computing systems."
Global Momentum Behind Cryptocurrency ETFs and ETPs
The introduction of STAO is part of a broader trend in cryptocurrency investment products gaining traction worldwide. This month alone, several groundbreaking offerings have entered the market. Among them, Bitwise’s Solana (SOL) Staking ETF (BSOL) made headlines by achieving $228 million in assets (approximately 317 billion KRW) on its opening trading day, offering investors an annual staking yield of around 7%.
Meanwhile, Caner has announced plans to launch ETFs based on Litecoin (LTC) and Hedera (HBAR), while Grayscale’s Solana Trust inches closer to its ETF conversion.
Across Asia, Hong Kong regulators recently approved the region's third spot cryptocurrency ETF—the Solana spot ETF—joining the ranks of Bitcoin (BTC) and Ethereum (ETH) spot ETFs already approved in the region. This flurry of activity highlights the surging interest in crypto ETFs across global markets, especially within Asia’s rapidly growing investment landscape.
The launch of the STAO ETP signals a remarkable milestone for Safello and Deutsche Digital Assets, as well as for the broader evolution of blockchain and artificial intelligence integration within mainstream financial products. By marrying AI-driven blockchain innovation with investment-grade securities, STAO positions BitTensor at the forefront of the decentralized AI movement, offering institutional and retail investors an unprecedented opportunity to access its groundbreaking ecosystem. The fusion of secure custody, automated staking rewards, and BitTensor’s transformative technology sets a standard for what the future of exchange-traded crypto products might look like.
