Market News

EU Sees a Surge in Bittensor as First TAO ETP Launches with Promising Momentum

The recent debut of Europe's first staked TAO exchange-traded product (ETP) has sparked significant investor interest in Bittensor, leading to a remarkable 23.62% increase in its value.

After experiencing a two-week trading range, Bittensor [TAO] broke out, reaching a 10-month high of $539, with current trading at around $528.

The ETP, named Safello Bittensor Staked TAO, will be listed on six Swiss Exchanges and is backed by TAO tokens stored in cold storage by a regulated custodian.

Investors in this product will enjoy a 10% annual yield, with rewards reinvested into the fund, creating attractive conditions for capital inflow.

The introduction of the ETP signals a strategic bridge between traditional finance (TradFi) and decentralized artificial intelligence, aiming to unlock European institutional capital.

Trading volumes showed impressive growth, with the altcoin’s derivatives volume increasing by 90.63% to $2.37 billion, suggesting heightened market participation.

Furthermore, a strong positive Buy Sell Delta indicates aggressive accumulation among investors, with futures net inflows surging by over 172%.

Despite a current rise in profit-taking, Bittensor's Relative Strength Index (RSI) indicates strong buyer dominance, suggesting a potential continuation of its upward trend.

However, should profit-taking escalate, a market correction around the $455 support level could occur, highlighting the dynamic nature of the crypto market.

As the landscape of cryptocurrency investment evolves, the successful launch of the TAO ETP marks a significant development for Bittensor and European markets alike.