Bittensor TAO Hits 10M High on Europe’s First Staked ETP
Bittensor TAO jumped 23.6% to $528, a 10-month high, after Europe’s first staked TAO ETP launched on six Swiss exchanges. The Safello-backed product offers a 10% annual yield (auto-reinvested) and caps fees at 1.49%, attracting institutional capital. Spot markets saw net buys of 41,000 TAO and trading volume doubled to $950 million, while futures volume rose 90.6% to $2.37 billion. Open interest climbed 64.8% to $446 million, with $28.5 million net inflows and a 1.038 long-short ratio, signaling bullish positioning. Technical indicators—RSI near 70 and Sequential Pattern Strength at 35—point to continued momentum toward $590. However, profit-taking at the $455 support level could lead to a pullback. Traders should monitor Bittensor TAO spot netflows and derivatives positioning for momentum cues.
Bullish
The launch of Europe’s first staked TAO ETP has driven substantial institutional inflows, leading to significant spot net buys and a surge in futures volume and open interest for Bittensor TAO. The 1.038 long-short ratio and $28.5 million net futures inflows indicate bullish trader positioning, while technical indicators such as an RSI near 70 and a Sequential Pattern Strength of 35 suggest sustained upward momentum. These developments point to short-term strength as traders chase yield products and dive into derivatives, and they may lay a foundation for longer-term adoption as more ETPs launch. However, monitoring profit-taking around support levels like $455 is crucial to gauge the depth of potential pullbacks. Overall, the news underscores a bullish outlook for Bittensor TAO.