Bitwise accelerates staking momentum with Celestia ETP launch on Euronext Paris

Bitwise today announces the launch of the Bitwise Celestia Staking ETP (Ticker TIAB; ISIN DE000A4APRP0) on Euronext Paris. The product seeks to provide exchange-traded exposure to TIA, the native token of the Celestia blockchain platform, replicating the Kaiko Bitwise Staked TIA Index. At the same time, the ETP aims to capture staking rewards without the need for investors to manage the technical aspects of the staking process, which enables token holders to earn rewards in return for validating transactions in proof-of-stake networks such as Celestia.

Celestia aims to be the leader in modular blockchains, built for extreme speed and specialization. Its Layer 1 is designed to handle use cases that need high data throughput and low costs, such as high-performance trading, stablecoins, and real-world assets (RWAs). It also allows other blockchains, known as “rollups” or “Layer 2s,” to publish their data on Celestia. Over the past year, usage of Celestia's “namespaces” - unique identifiers for posted data - has increased roughly fivefold. This growth reflects both the launch of new rollups and higher activity from existing ones.

Bradley Duke, Head of Europe at Bitwise, said: “The Bitwise Celestia Staking ETP is an extremely relevant addition to our growing product suite of institutional-grade, crypto exchange-traded products. Celestia’s blockchain has rapidly become known for its modular approach, with a data availability layer that is separate from functions such as execution. This has enabled it to fully focus on data availability and rapidly attract new users. Some have compared Celestia to a cloud services infrastructure provider for the crypto space. We believe investors can now benefit from its potential upside opportunities through Bitwise’s expertise and the transparency of a regulated product structure.”

TIAB is the sixth product Bitwise has launched as part of its European Total Return product suite, as the company actively expands access for investors to its suite of index-linked staking products. Underscoring the rising demand for staking products, the Bitwise Solana Staking ETP (BSOL; ISIN DE000A4A59D2) recently surpassed $100 million in invested assets, while the Bitwise Ethereum Staking ETP (ET32; ISIN DE000A3G90G9), has crossed the $300 million threshold in invested funds.

The Bitwise Celestia Staking ETP is fully backed by TIA tokens held in cold storage custody, and issued in Germany. It is designed to deliver efficient staking returns with a low total cost of ownership, with staking rewards accumulating daily, increasing the cryptocurrency entitlement per ETP unit. By referencing the Kaiko Bitwise Staked TIA Index, investors can track its performance, net of costs and fees, against the market standard. Investors can buy and sell Bitwise Celestia Staking ETPs like stocks or ETFs through a securities account, without the need for a new account or crypto wallet.

“The most ambitious projects in crypto are choosing Celestia to go mainstream,” said Mustafa Al-Bassam, co-founder and CEO of Celestia Foundation. “We're seeing a surge of projects across high-performance trading, real-world assets, and stablecoins building on Celestia. Our modular architecture is purpose-built for the extreme speed and specialization these applications demand, helping teams go to market faster and scale further than what other monolithic L1s are capable of today.”

Staking is a way to generate additional returns for token holders, allowing them to help validate transactions on the network, contributing to its security and reliability. In return, they earn additional tokens. Unlike dividends, which come from company profits, staking rewards compensate holders for performing an active role in maintaining the blockchain. The Bitwise Celestia Staking ETP offers investors a streamlined way to gain exposure to staking rewards without the need to hold a wallet or managing the technical aspects of staking or token custody directly. Additional benefits include daily liquidity and security stemming from cold storage of the tokens by a professional institutional custodian.

Key Product Details

* The Net Staking Reward represents the return that is aimed to be generated from staking the ETP’s assets in line with the benchmark, after deduction of the Staking Service Fee but before the annual management fee (TER 0.85% p.a.) is applied. The issuer retains 33% of the total staking rewards generated as a Staking Service Fee. This fee is used to cover the operational costs of maintaining the ETP’s staking infrastructure, including charges from staking service providers, and to support the ongoing management of the staking process. Rewards are credited to the ETP on a daily basis and reinvested automatically, which increases the cryptocurrency entitlement per ETP unit over time. The staking rate may vary depending on network conditions, reward levels, and overall market dynamics. Disclaimer: The stated staking reward is not a guarantee of future returns. Actual outcomes can differ due to factors such as protocol rules, validator participation, market volatility, network performance, usage, and validator transaction fees. Staking involves risks, including the potential loss of staked assets and accrued rewards in the event of slashing, penalties, smart contract vulnerabilities, protocol exploits, or other operational issues. More information available at https://www.bitwiseinvestments.eu/products/