Core Insights - Bitwise has launched the Bitwise Celestia Staking ETP (Ticker TIAB) on Euronext Paris, providing exchange-traded exposure to TIA, the native token of the Celestia blockchain, while allowing investors to earn staking rewards without managing the technical aspects of staking [1][4] Product Overview - The Bitwise Celestia Staking ETP aims to deliver efficient staking returns with a target net staking reward of 7.54% and a total expense ratio (TER) of 0.85% per annum [8] - The ETP is fully backed by TIA tokens held in cold storage custody, allowing investors to buy and sell it like stocks or ETFs without needing a new account or crypto wallet [4][8] - Staking rewards accumulate daily, increasing the cryptocurrency entitlement per ETP unit over time, and the issuer retains 33% of the total staking rewards generated as a Staking Service Fee [8] Market Context - Celestia is positioned as a leader in modular blockchains, designed for high data throughput and low costs, with significant growth in the usage of its "namespaces" over the past year, reflecting a fivefold increase [2] - The demand for staking products is rising, as evidenced by the Bitwise Solana Staking ETP surpassing $100 million in invested assets and the Bitwise Ethereum Staking ETP crossing the $300 million threshold [3] Strategic Positioning - Bitwise's Head of Europe highlighted the relevance of the Celestia Staking ETP in their product suite, emphasizing Celestia's modular approach and its potential to attract new users [3] - The modular architecture of Celestia is designed to support high-performance applications, enabling faster market entry and scalability compared to traditional monolithic Layer 1 blockchains [5] Company Background - Bitwise is a leading crypto specialist asset manager with over $15 billion in client assets, providing a broad suite of index and active solutions across ETPs and other investment vehicles [11] - The company has developed an extensive suite of crypto ETPs in Europe, including the most traded bitcoin ETP and the first diversified Crypto Basket ETP [12]