Product Details
| Type | Exchange Traded Note (100% collateralized) |
| Exchanges | SIX Swiss Exchange |
| Trading Currency | USD |
| Exchange Ticker | STAO |
| ISIN | DE000A4APQY4 |
| WKN | A4APQY |
| VALOR | n/a |
| Bloomberg | STAO |
Key Facts
| As of Date | |
| Base Currency | USD |
| Inception Date | tbd |
| Domicile | Liechtenstein |
| Net Asset Value (USD)** | |
| Total Expense Ratio | 1.49% |
| Replication Method | Physical (100% collateralized by the underlying) |
| Notes Outstanding** | |
| UCITS Compliant | No |
| UCITS Eligible | Eligible* |
| Securities Lending | No |
| Staking | Yes |
| Income Treatment | Accumulating |
| Rebalancing Frequency | n/a |
| Legal Form | Debt Security (100% collateralized) |
| Issuer | DDA ETP AG |
| Administrator | Trident Fund Services (Malta) Ltd |
| Security Trustee | Griffin Trust AG |
| Custodian(s) | BitGo Europe GmbH |
| Registered for sale | AT, BE, CH, CY, CZ, DE, DK, DK, EE, ES, FI, FR, GR, IE, IT, LI, LU, MT, NL, NO, PL, PT, SE, SI, SK, |
Product Description
The Safello Bittensor Staked TAO ETP (STAO) provides investors with secure, regulated exposure to Bittensor (TAO) — a decentralized, blockchain-based machine learning network often described as the Internet of AI. The ETP is 100% physically backed and staked, enabling investors to benefit from both the price performance of TAO and the staking yield generated by the network. Each note represents a direct claim on the underlying TAO, safely held in institutional-grade cold storage.
- Physically backed by the underlying and stored in so called cold storage at a regulated custodian
- Management fee of 1.49% p.a.
- Listed and traded on SIX Swiss Exchange in USD
- Staking enabled (accumulated in NAV net of service provider fees)
- Registered for sale across 25+ European markets including Germany, Sweden, Switzerland, and others.
Product Benefits
Access to The “Internet of AI”
Bittensor (TAO) is redefining how intelligence is created, shared, and valued. It operates as a global, decentralized marketplace for machine learning models—where developers contribute algorithms, earn TAO tokens, and collectively build an open, permissionless AI economy.
By tokenizing access to intelligence, Bittensor creates a new paradigm where AI models compete and collaborate, independent of centralized control.
100% Physically Backed and Secured
Every note is fully backed by TAO, held in institutional-grade cold storage with BitGo Europe GmbH. Investors gain exposure to the underlying asset without managing wallets or private keys themselves.
Regulated, Transparent, and Traded Like an ETP
STAO trades on the SIX Swiss Exchange in USD, combining the simplicity of an exchange-traded product with the transparency of regulated custody and reporting standards.
Potential Tax Benefits
For German private investors, DDA crypto ETPs may be tax-free after a one-year holding period.1
Pricing Information
Each Note is backed by the following cryptocurrencies at launch: 0.03 TAO
Read more about the index, its underlying model and the methodology here:
Key Risks
Investors’ capital is at risk and investors may not get back the amount originally invested. The ETP is structured as fully collateralized debt security, not as equity. The ETP traded on exchanges are bought/sold at market prices which may be different to the net asset value of the ETP or the composition of the basket of cryptocurrencies. Investor’s capital is at risk and investors may not get back the amount originally invested and should obtain independent advice before making a decision. Any decision to invest should be based on the information contained in the relevant prospectus. ETP securities are structured as debt securities, not as funds. ETPs trade on exchanges like securities. They are bought/sold at market prices which may be different to the net asset value of the ETP.
Physical Delivery Option for Retail Investors
A Holder can only exercise its termination right through an Authorized Participant, if he qualifies in accordance with client acceptance policies of the respective Authorized Participant (which the Issuer has no influence over). The termination can be exercised through any Authorized Participant whether or not the Notes were acquired through the Authorized Participant receiving the notice or acquired through a secondary market. In such case, the Notes will be redeemed in the underlying to the Digital Wallet of the Holder, unless a Holder is prevented from receiving the underlying for legal or regulatory reasons (such as Undertakings for Collective Investment in Transferable Securities (UCITS) within the meaning of Article 1 of the Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009). In such cases the Holder, acting through an Authorized Participant, may demand redemption in USD and EUR in which case the underlying will be converted into USD or EUR in accordance with the relevant provisions of the Terms and Conditions on a date fixed for redemption.
If you are interested in the physical delivery option, please reach out to: [email protected].
About the Issuer
DDA ETP AG is a wholly owned subsidiary of DDA Europe GmbH and the issuer of physically backed Exchange Traded Products (“ETP”). DDA Europe GmbH is the holding company of a series of subsidiaries that manage and issue crypto asset investment products. Collectively, DDA Europe GmbH and its subsidiaries are branded as “DDA”. DDA is the bridge to passive and actively managed exposure to crypto. DDA, via its subsidiaries, offers crypto asset ETP’s, diversified index funds and alpha-seeking strategies for investors in a familiar and regulated manner.
Where to buy?
DDA ETPs are listed on traditional exchanges and trade just like stocks or ETFs. Add digital assets exposure to your portfolio using existing bank or brokerage accounts, or choose a new trading platform. As an investor in DDA ETPs you do not have the need or technical capability to manage crypto wallets or worry about tax implications.
The list above features some but certainly not all of the popular banks/brokerages. If you have difficulties accessing our products through your preferred bank/brokerage, please contact us by clicking on the button below. We will reach out to your bank/brokerage and try to make the products available to you.
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Market Performance
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Cryptocurrency exchange-traded products (ETPs) provide investors with access to cryptocurrencies via a traditional investment infrastructure. DDA ETPs physically-backed by cryptocurrencies enable investors to participate cost efficiently in the price development of a single digital asset or a basket of digital assets from their personal bank accounts – just as they experience investing in stocks, bonds or ETFs.
You can buy a DDA crypto ETPs through your bank or brokerage without setting up a crypto wallet.
The DDA ETPs are available on European stock exchanges, such as Deutsche Börse Xetra, Euronext Paris u0026amp; Amsterdam, SIX Swiss Exchange and Börse Stuttgart. For each exchange availability, please refer to the product-specific factsheet.
DDA ETPs are established investment structures that trade on traditional exchanges, mitigating the regulatory risk that exists when trading crypto outright on digital asset exchanges. Investors can invest in DDA ETPs with confidence, knowing that all stakeholders have been examined and trades are closely monitored to ensure all trading activities are aligned with regulatory requirements.
By purchasing bitcoin through an ETP, investors minimize the risk of losing their funds to due wallet mismanagement. DDA Bitcoin ETP is conveniently stored at specialized custodians such as BaFin-regulated Coinbase Germany GmbH or French AFM-regulated “Aplo”. Investors do not require the technical expertise to manage several wallets and private keys.
So, there are a number of advantages to using DDA Bitcoin ETP for exposure to digital assets, including the fact that they are regulated, listed, liquid, available to retail investors, and don’t present issuer risk due to their collateralised nature. Find out more here.