Bitwise Files for Aptos ETF: APT Surges 17%

Bitwise Asset Management has taken a significant step towards launching an aptos ETF in the U.S. market. The company filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Wednesday, aiming to provide investors with regulated exposure to the Aptos (APT) token through the bitwise Aptos ETF.

The filing of an S-1 registration statement is the initial step in a lengthy SEC approval process. The SEC will carefully review the application, assessing factors such as market risk, investor protection, and regulatory compliance before making a decision. If approved, the Bitwise Aptos ETF would mark a major step toward mainstream adoption of Aptos, providing institutional and retail investors with an easy way to gain exposure to apt without directly holding the asset.

Aptos is a Layer 1 blockchain platform designed for scalability, security, and efficiency in decentralized applications (dApps). Developed by former meta engineers, it uses the Move programming language. Since its launch, Aptos has gained attention for its innovative technology and strong developer backing. APT, the native cryptocurrency of Aptos, serves multiple roles, including transaction fees, staking to secure the network, and on-chain governance, allowing holders to influence protocol upgrades and decisions.

Following Bitwise’s ETF filing, the price of APT experienced a sharp increase. As of today, APT is trading at approximately $6.43, marking a 17.49% surge in the past 24 hours. This uptick reflects renewed investor confidence and speculation around the potential approval of the Aptos ETF. For European investors, Bitwise already has a similar product listed in Switzerland – the Bitwise Aptos Staking ETP – on the SIX Swiss Exchange.