Bitcoin News Today: Bitwise's Aptos ETF Filing Could Unlock Billions for DeFi and NFTs

Bitwise Asset Management has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the first-ever spot ETF tied to the Aptos (APT) blockchain, marking a significant step in expanding institutional access to layer-1 protocols. The filing, confirmed through SEC's EDGAR system under Bitwise's name, initiates a regulatory review process that typically involves multiple comment rounds. The SEC's Disclosure Review Program generally allows 30 days for initial responses post-filing, though final approval timelines remain uncertainBlockchain.News, ^[1]. For the ETF to list, Bitwise must also secure an approved exchange rule change (Form 19b-4) from a venue like Cboe BZX or NYSE ArcaCoinpedia.org, ^[2].

The Aptos ETF filing follows a 30% surge in APT's price to $5.37 in the week preceding the announcement, driven by heightened institutional interest in the blockchain's ecosystem. Aptos, the second major layer-1 project after Solana to attract ETF-focused inflows this quarter, has seen growing adoption of tokenized assets from firms like BlackRock and Franklin Templeton. The network's stablecoin supply has expanded eightfold since October 2024, with Tether's USDT now accounting for 75% of Aptos' total stablecoin volumeEdgarIndex.com, ^[3]. Bitwise CEO Hunter Horsley highlighted the momentum in the Aptos ecosystem, though he could not disclose further details during the regulatory "quiet period"Coinfomania.com, ^[4].

The ETF structure, outlined in the SEC filing, will issue shares representing fractional ownership in a trust holding APT tokens. The trust's value will be tied to the CF Aptos-Dollar Settlement Price, a benchmark aggregating data from major trading platforms. Bitwise's management fee and the creation/redemption mechanism-allowing large institutional participants to mint or redeem shares in blocks of 10,000-aim to align the ETF's market price with APT's intrinsic valueBeInCrypto, ^[5]. This design mirrors existing Bitcoin and Ethereum ETFs, which saw liquidity spikes and tighter spreads after SEC approvals in early 2024Blockchain.News, ^[6].

Market analysts note that historical patterns suggest a potential 10-20% price surge in APT following ETF-related announcements, though regulatory hurdles could delay approval. The SEC has faced mounting pressure to clarify its stance on crypto ETFs, having approved several Bitcoin and Ethereum products earlier this year. If cleared, the Aptos ETF could unlock billions in capital for the blockchain's DeFi, NFT, and gaming platforms, replicating the inflows observed in the first Bitcoin ETF cycleCoinpedia.org, ^[7].

Bitwise's filing also underscores broader institutional interest in layer-1 projects. Aptos has seen 897% growth in developer activity year-to-date, outpacing networks like Celo and Nym. This momentum aligns with Bitwise's strategy to diversify its crypto product lineup beyond Bitcoin and Ethereum. The firm's prior success in launching regulated crypto ETFs positions it to capitalize on the SEC's evolving regulatory framework for digital assetsCoinfomania.com, ^[8].