Aptos ETF in the Works: Bitwise Takes the Lead with New Registration
Aptos ETF– Bitwise, a prominent crypto fund manager, has officially registered an Aptos ETF entity in Delaware, signaling a potential step toward listing the fund with the U.S. Securities and Exchange Commission (SEC). The registration, which occurred on February 25, suggests that Bitwise is preparing to file an S-1 registration, a necessary procedure for launching a new investment vehicle in the U.S.
This move comes as Bitwise continues to expand its presence in the digital asset space. In November 2024, the firm launched the Aptos Staking Exchange-Traded Product (ETP) across six Swiss exchanges, marking a significant international push for the Aptos network. Hunter Horsley, CEO and co-founder of Bitwise, commented, “With the launch of Bitcoin and Ethereum spot ETPs in the U.S., a huge cross-section of investors have begun researching and adding digital assets to their portfolios.”
Alongside Bitwise, 21Shares also introduced its own Aptos Staking ETP on Euronext exchanges in Amsterdam and Paris, further solidifying the interest in Aptos-based products. Bitwise’s decision to file for an Aptos ETF registration in Delaware highlights the growing interest in offering cryptocurrency-based funds to institutional investors.
The Aptos blockchain, a Layer-1 solution, launched its mainnet in 2022. Aptos’ native token, APT, is currently ranked 36th in market capitalization, valued at approximately $3.6 billion. Despite a broader market downturn, APT’s price surged by 8.9% in the past 24 hours, trading at $6.12 at the time of publication.
In addition to the Aptos developments, other major asset managers are also racing to file altcoin ETF applications. Grayscale recently submitted a proposal for its Polkadot Trust ETF, while Canary Capital filed for a spot HBAR ETF earlier this week, indicating the increasing demand for diverse digital asset products.
These developments underscore the ongoing maturation of the cryptocurrency market, with fund managers eager to bring more options to both retail and institutional investors. However, the regulatory landscape remains fluid, and it remains to be seen how these filings will impact the overall market.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
Leave a comment