Bitwise Asset Management Has Taken the First Step Toward Launching an Aptos (APT) Exchange-Traded Fund (ETF)

This move positions Bitwise as the first asset manager to pursue an ETF dedicated to Aptos.

Bitwise Asset Management has taken the first step toward launching an Aptos (APT) exchange-traded fund (ETF), filing for a Delaware trust that will be linked to the proposed product.

This move positions Bitwise as the first asset manager to pursue an ETF focused specifically on Aptos. The filing with Delaware’s Division of Corporations, dated February 25, is a preliminary step in registering the trust for the proposed Aptos ETF.

This filing does not guarantee immediate approval or the fund’s launch. Next, Bitwise will need to submit a formal application to the US Securities and Exchange Commission (SEC). This will include a detailed prospectus outlining the ETF’s structure, investment strategy, and how it plans to track Aptos.

The SEC will then review the application, which could take several months. It can either approve, reject, or request modifications to the proposal.

If approved, the Aptos ETF will allow institutional and retail investors to gain exposure to APT tokens without having to purchase or manage the cryptocurrency themselves. This could boost liquidity and mainstream adoption of the Aptos ecosystem.

It is worth noting that Bitwise’s move to register an Aptos ETF in Delaware follows the launch of several Aptos exchange-traded products (ETPs) in Europe. Earlier this year, Bitwise launched two ETPs on the Swiss exchange SIX, allowing European investors to gain exposure to Aptos through a more accessible route.

These ETPs, known as the Bitwise Aptos Staking ETP and the 21Shares Aptos Staking ETP, are linked to a basket of leading cryptocurrencies, with a portion of the investment focused on Aptos tokens.

Aptos is a Layer 1 blockchain that is designed for scalability, security, and reliability. It was developed by former Meta (Facebook) engineers who previously worked on the now-defunct Diem project. Aptos uses the Move programming language, originally created for Diem, to enhance security and efficiency in smart contracts.

The prospect of a US ETF tied to APT highlights a broader trend among asset managers to diversify beyond Bitcoin (BTC) and Ethereum (ETH) ETFs, which have been the primary focus since their approvals last year.

Earlier this year, the US saw the approval of the first spot Bitcoin ETF, paving the way for a surge in new crypto-linked funds.

Aptos is a Layer 1 blockchain designed for scalability, security, and reliability. It was developed by former Meta (Facebook) engineers who previously worked on the now-defunct Diem project. Aptos uses the Move programming language, originally created for Diem, to enhance security and efficiency in smart contracts.

The prospect of a US ETF tied to APT highlights a broader trend among asset managers to diversify beyond Bitcoin (BTC) and Ethereum (ETH) ETFs, which have been the primary focus since their approvals last year. Earlier this year, the US saw the approval of the first spot Bitcoin ETF, paving the way for a surge in new crypto-linked funds.

Aptos is a Layer 1 blockchain designed for scalability, security, and reliability. It was developed by former Meta (Facebook) engineers who previously worked on the now-defunct Diem project. Aptos uses the Move programming language, originally created for Diem, to enhance security and efficiency in smart contracts.

Earlier this year, the US saw the approval of the first spot Bitcoin ETF, paving the way for a surge in new crypto-linked funds.

Aptos is a Layer 1 blockchain designed for scalability, security, and reliability. It was developed by former Meta (Facebook) engineers who previously worked on the now-defunct Diem project. Aptos uses the Move programming language, originally created for Diem, to enhance security and efficiency in smart contracts.