Just In: Bitwise Submits S-1 Filing for Aptos ETF, APT Price Jumps 15%

Bitwise Asset Management has officially submitted an S-1 filing with the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) focused on Aptos (APT). This move makes Bitwise the first company to file for an Aptos-based ETF in the United States. Following the announcement, the price of APT surged by 15%, reflecting strong market interest.

Bitwise Seeks SEC Approval for Aptos ETF

Bitwise, an asset management firm, filed an S-1 registration statement with the SEC on Wednesday. The filing aims to launch an ETF that will track the value of Aptos, a layer-1 blockchain token. The firm has not yet disclosed the ticker symbol or the exchange where the ETF will be listed.

According to the filing, the ETF will hold Aptos and use the CF Aptos–Dollar Settlement Price as its pricing benchmark. The fund is designed to offer exposure to APT by issuing shares backed by the cryptocurrency. The filing also states that Bitwise will manage the ETF and charge an annual management fee, though the specific rate has not been disclosed.

The ETF will create and redeem shares in blocks of 10,000 units, known as “Baskets.” These transactions will be handled through authorized financial institutions. Investors will be able to buy and sell shares through brokers, and prices may fluctuate based on supply and demand.

However, the approval process for the Bitwise Aptos ETF will likely take several months. In addition to the S-1 filing, Bitwise will need to submit a 19b-4 filing, which is required for rule changes at the stock exchange where the ETF will be listed. The SEC will then have a set period to review and decide on the application.

APT Price Surges Following the Announcement

Shortly after the filing was made public, APT price saw a sharp increase in its market value. The token rose 15% in the past 24 hours, trading at approximately $6.48 at press time. Trading volume also surged, indicating increased investor interest in the potential ETF.

Aptos is currently ranked as the 36th largest cryptocurrency by market capitalization, valued at over $3.8 billion. The blockchain operates on a proof-of-stake model and utilizes the Move programming language, which was originally developed for Meta’s abandoned Diem project.

Analysts have noted that the price movement reflects growing optimism about the expansion of crypto ETFs beyond Bitcoin and Ethereum. The market has responded positively to recent regulatory developments, with several asset managers seeking approval for ETFs tied to other cryptocurrencies.

Bitwise Expands Crypto ETF Offerings

Bitwise has been actively expanding its ETF offerings, seeking to bring more crypto investment products to traditional markets. The firm previously launched Aptos staking ETFs in Europe, offering investors exposure to APT through regulated exchanges in Switzerland.

This latest filing comes amid a wave of crypto ETF applications targeting assets beyond Bitcoin and Ethereum. Several companies have also submitted filings for ETFs based on Solana, Hedera, Litecoin, XRP, and Dogecoin. While the SEC has approved multiple Bitcoin ETFs, it has yet to greenlight spot ETFs for other cryptocurrencies.

Industry experts believe that the new SEC leadership could be more open to approving alternative crypto ETFs. The regulatory agency has recently dropped lawsuits against major crypto firms and formed a new Crypto Task Force aimed at improving industry relations ahead of the White House Summit which is also centered on crypto regulation reforms.