Bitwise Submits Amended Filings for Dogecoin Aptos ETFs with SEC

Coin WorldThursday, Jun 26, 2025 1:04 pm ET
2min read

Bitwise Asset Management has submitted amended S-1 registration statements for its proposed spot Dogecoin and Aptos exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). This development occurred exactly two weeks after the SEC postponed its review of the Dogecoin ETF, indicating a positive step forward in the regulatory process. The amended filings suggest that the SEC is actively engaging with Bitwise, which is seen as a favorable sign by analysts.

Bitwise initially filed for the Dogecoin ETF in January and followed with the Aptos ETF application in March. The asset manager already has other crypto ETF offerings, such as the Bitwise Bitcoin ETF (BITB), and several other applications pending, including one for an XRP-focused fund. The amended filings for the Dogecoin ETF include the addition of in-kind creations and redemptions, which allow authorized participants to deliver or receive Dogecoin directly. This provision is favored for reducing slippage and improving tax efficiency, and its inclusion is seen as a regulatory necessity for future spot crypto ETFs. Coinbase Custody will serve as the custodian for the Dogecoin ETF.

The Aptos ETF, if approved, would be the first U.S.-based fund focused solely on APT, the native token of the Aptos blockchain. Bitwise registered a Delaware trust for the Aptos ETF on February 28 and filed the corresponding S-1 with the SEC on March 5. The fund does not propose a staking mechanism, despite Aptos being a proof-of-stake blockchain. Bitwise will also need to submit a 19b-4 form to trigger the SEC’s official review window. Once the SEC acknowledges the filing, a 240-day countdown begins for the agency to issue a final decision.

Bitwise’s initial DOGE S-1 filing showed that it was requesting the registration of its ETF under the Securities Act of 1933, also known as the ’33 Act. This differs from earlier applications by other firms, which used the Investment Company Act of 1940 framework. The ’40 Act has more profound investor protections, including stricter governance requirements, but the ’33 Act is used for commodity-based and physically-backed ETFs. The approach may give Bitwise flexibility in structuring these funds, although it also subjects them to a different regulatory lens.

This development is significant as it reflects the growing interest in cryptocurrency ETFs and the increasing demand for regulated financial products that provide investors with access to digital assets. The approval of spot ETFs for Dogecoin and Aptos would offer investors a new avenue to invest in these cryptocurrencies, potentially driving further adoption and growth in the market. The progress made by Bitwise is also indicative of the broader trend in the cryptocurrency industry, where more companies are seeking to offer regulated financial products to meet the growing demand for cryptocurrency investments and the need for regulatory clarity and oversight.