What happened?
Deutsche Digital Assets teamed up with Safello to launch a staked Bittensor (TAO) ETP called STAO on the SIX Swiss Exchange. The product is physically backed by TAO held in cold custody, tracks the Kaiko Safello Staked Bittensor Index, and reinvests staking rewards into the NAV. It’s a regulated total-return ETP with a maximum fee of 1.49% that gives investors price exposure plus staking income.
Who does this affect?
Retail and institutional investors in Europe who want regulated access to crypto and staking rewards now have a simple on-exchange vehicle to buy. Bittensor holders and the decentralized AI community could see higher demand and visibility as the token becomes more accessible to mainstream investors. Custodians, index providers, asset managers and exchanges are also affected as they compete to offer similar compliant products and adapt operations for staking and custody needs.
Why does this matter?
The listing can attract fresh capital into TAO by giving conservative investors a regulated way to gain exposure plus staking yields, which may push up TAO’s price and trading volume. It’s a sign the European crypto ETP market is maturing and starting to fold niche DeFi and AI tokens into traditional finance, likely prompting more rival ETPs and institutional flows. More liquidity and institutional demand could tighten spreads, raise valuations for similar projects, and accelerate the rollout of compliance-first crypto products across exchanges.