Bitwise Eyes First Aptos ETF in U.S. With Delaware Trust Filing

Bitwise Asset Management is making moves toward launching an Aptos exchange-traded money (ETF) successful the U.S. by registering a Delaware spot entity. The filing, made connected February 25, is the archetypal measurement earlier seeking ceremonial support from the SEC.

This improvement positions Bitwise arsenic the archetypal plus manager aiming to present an ETF that straight holds Aptos (APT) tokens successful the U.S. More firms are jumping into the altcoin ETF game, with concern products successful the works for Solana (SOL), XRP, Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), and Hedera (HBAR).  

By registering successful Delaware, Bitwise is laying the groundwork to record an S-1 signifier with the SEC, an indispensable measurement earlier the ETF gets the greenish light. The steadfast has already launched spot ETFs successful the U.S. and introduced an Aptos Staking ETP connected six Swiss exchanges successful November 2024. Bitwise besides precocious registered a DOGE ETF successful Delaware, reinforcing its propulsion into altcoin ETFs.

Following the Aptos ETF filing, APT surged 13% arsenic investors responded to the news. CoinMarketCap information ranked Aptos arsenic the 30th largest cryptocurrency astatine the time, with APT trading astatine $6.12, reflecting an 8.28% leap successful 24 hours.

Mo Shaikh, CEO of Aptos Labs, sees the ETP arsenic a large measurement toward getting much institutions into crypto, saying it proves however accelerated and reliable the Aptos blockchain is. Bradley Duke, who heads Bitwise’s European operations, said the merchandise is made for superior investors who privation a safer, regulated mode to put successful Aptos.  

Bitwise besides conscionable locked successful $70 cardinal successful backing from large fiscal players similar Electric Capital, MassMutual, Highland Capital, ParaFi Capital, and Khosla Ventures, showing that large investors are backing regulated crypto products.  

At the aforesaid time, 21Shares launched its ain Aptos Staking ETP connected Euronext Amsterdam and Paris successful November, making it the archetypal of its benignant successful Europe.

Also Read: Grayscale Seeks SEC Approval for Polkadot ETF connected Nasdaq