The Safello Bittensor Staked TAO ETP (ticker: STAO) has been awarded a Special Award at the XENIX ETF Awards Nordics 2026, marking another milestone for Bittensor’s expansion into regulated European capital markets.
The ceremony was held on May 4 at the National Museum of Denmark in Copenhagen.
The XENIX ETF Awards recognize standout products in the European ETF and ETP market. STAO took home its Special Award in recognition of being the first European ETP linked to staked TAO, a distinction that has become increasingly significant as institutional appetite for decentralized AI exposure accelerates.
A Deliberate Bet on Decentralized AI
For Safello, the Nordics’ leading crypto exchange, the recognition caps off a year-long strategic push into Bittensor. The company first reallocated part of its treasury into TAO in 2025, then partnered with Deutsche Digital Assets (DDA) to bring a regulated, exchange-traded product to European investors.
“Receiving this award is a meaningful recognition of the work we have done to bring regulated, accessible exposure to Bittensor to European investors,” said Frank Schuil, founder and CEO of Safello. “From our initial treasury reallocation into TAO a year ago to listing the first staked TAO ETP in Europe, this has been a deliberate journey built on a strong conviction in decentralized AI as the most important emerging asset class in crypto.”
STAO initially launched on SIX Swiss Exchange in November 2025 and was subsequently cross-listed on Nasdaq Stockholm in March 2026, broadening its reach to Nordic investors trading in Swedish kronor.
How STAO Works
The product is issued by DDA ETP AG under the Safello–DDA partnership and is 100% physically backed by staked TAO. It tracks the Kaiko Safello Staked Bittensor Index (KSSTAO), with staking rewards automatically reinvested into the product and reflected in its net asset value, giving holders a total-return structure rather than a price-only exposure.
Key product details:
- Ticker: STAO
- Issuer: DDA ETP AG
- Backing: 100% physically staked TAO
- Index: Kaiko Safello Staked Bittensor Index (KSSTAO)
- Management fee: 1.49%
- Listings: Nasdaq Stockholm (SEK), SIX Swiss Exchange (USD)
The auto-compounding staking design is significant for TAO holders. Rather than having to manage validator delegation, lock-ups, or tax events tied to reward distributions themselves, investors holding STAO receive staking yield embedded directly into the unit price.
Institutional Money Looks Past BTC and ETH
DDA framed the win as a signal of where institutional capital is moving next.
“This award reflects the growing institutional appetite for crypto ETPs that go beyond Bitcoin and Ethereum. Bittensor sits at the intersection of AI and decentralised infrastructure, exactly the kind of exposure sophisticated investors are seeking, and exactly where DDA and Safello are leading,” said Dominik Poiger, Head of Product Management at DDA.
The comment lands at a moment when European ETP issuers are increasingly racing to wrap altcoins with credible fundamentals into compliant structures. Bittensor has emerged as one of the few crypto-native AI plays with the technical depth and market cap to attract regulated product flows.
What It Means for the TAO Ecosystem
The STAO’s award matters for reasons beyond the trophy. Each new regulated vehicle widens the on-ramp for capital that can’t or won’t hold TAO directly, such as pension allocators, wealth managers, and traditional brokerage clients across Europe.
STAO is currently available for trading on Nasdaq Stockholm in Swedish kronor and on SIX Swiss Exchange in US dollars.
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