Bitwise files to list a spot Aptos ETF — the 36th largest cryptocurrency

Crypto plus manager Bitwise has filed to database a spot Aptos exchange-traded money successful the US — a token created by a squad led by 2 erstwhile Facebook (now Meta) employees successful 2022.

Bitwise filed an S-1 registration connection to database the Bitwise Aptos (APT) ETF connected March 5, 8 days aft Bitwise indicated it would marque specified a filing erstwhile it registered a spot linked to the Aptos ETF successful Delaware connected Feb. 28.

The Aptos filing adds to the database of altcoins presently successful the enactment to triumph the securities regulator’s approval.

Bitwise opted not to see a staking diagnostic for the proof-of-stake powered Aptos blockchain and listed Coinbase Custody arsenic the projected custodian of the spot Aptos ETF. It has yet to specify which banal speech it would beryllium listed on.

A projected interest oregon ticker wasn’t included either. Bitwise volition besides request to record a 19b-4 signifier for its Aptos ETF exertion and for the SEC to admit it earlier the 240-day timepiece begins for the SEC to marque a decision.

Source: Aptos

The Aptos filing marks Bitwise’s latest effort to expand from the spot Bitcoin (BTC) and Ether (ETH) ETFs it presently has connected offer. It has besides precocious filed to database a spot Solana (SOL), XRP (XRP) and Dogecoin (DOGE) ETFs successful caller months.

While Bitwise’s different US spot ETF filings person been aimed astatine the apical tokens by marketplace capitalization, Aptos appears to beryllium an outlier, ranking 36th by marketplace capitalization of $3.8 billion, according to CoinGecko.

Aptos was developed by Aptos Labs, a institution founded by 2 erstwhile Facebook employees, Mo Shaikh and Avery Ching, successful 2021. 

It emerged arsenic a imaginable “Solana killer” erstwhile it launched successful October 2022 arsenic a high-speed, low-cost layer-1 blockchain. However, its marketplace headdress is presently lone one-nineteenth the size of Solana’s, CoinGecko information shows.

APT is up 14.4% implicit the past 24 hours to $6.25, CoinGecko information shows.

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Aptos boasts the 11th largest full worth locked among blockchains astatine $1.03 billion, according to DefiLlama data. Over $830 cardinal of that consists of stablecoins.

Real-world assets specified arsenic Franklin OnChain US Government Money Fund (FOBXX) person besides been tokenized connected the Aptos blockchain.

Bitwise isn’t a alien to Aptos, having launched an Aptos Staking ETP connected Switzerland’s SIX Swiss Exchange successful November that offers a 4.7% instrumentality connected staking yield.

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