TechFlame news: On August 19, according to Marketscreener, Swedish cryptocurrency service provider Safello Group AB announced plans to launch Europe's first exchange-traded product (ETP) with TAO tokens as physical support. The product will be distributed in partnership with Deutsche Digital Assets (DDA). It is planned to be listed on the Swiss Stock Exchange, Euronext (Paris and Amsterdam), and the German Stock Exchange, and is considering listing on the

NASDAQ Stockholm Exchange.

The ETP will be 100% physically backed by TAO tokens, and all assets will be securely stored and verifiable. Safello said

it will pledge the pledged TAO tokens to support the operation of the Bittensor ecosystem.