Bitwise Files for Aptos ETF, Expanding Crypto Exposure
1min read Bitwise Asset Management has taken a significant step towards launching the first U.S.-based ETF tracking the Aptos cryptocurrency. The firm has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for its Aptos ETF.
The proposed ETF, structured as a Delaware statutory trust, aims to provide investors with direct exposure to the price movements of Aptos (APT) while covering operational costs. The fund will track the value of apt using a pricing benchmark from a third-party provider and will directly hold APT, with minimal cash reserves for operational purposes.
Bitwise's move comes amidst a broader trend of crypto asset managers seeking to launch ETFs tracking various cryptocurrencies. Other firms, such as rex Shares and Osprey Funds, have also submitted filings for Dogecoin ETFs, while Grayscale has received SEC acknowledgment for its application.
The Aptos ETF filing follows Bitwise's registration of a Delaware trust entity for the proposed ETF on February 25, 2025. This indicates Bitwise's commitment to expanding its crypto ETF offerings and catering to the growing demand for exposure to the crypto market through regulated investment vehicles.
