Bitwise Files to Create an Aptos ETF, Building on the Delaware Trust Application Last Week

Aptos is a “Made in USA” cryptocurrency, which may help its chances of approval with the SEC. At the moment, however, the SEC is processing a heightened volume of ETF applications.

As the U.S. bourses prepare for a new wave of interesting ETFs, we might soon see another altcoin addition to the SEC’s docket.

Those who follow the crypto market closely know that several institutions have been applying for approval to list various crypto ETFs.

As several institutions apply for approval to list new crypto ETFs, the SEC has also started approving several altcoin ETFs.

Now, as the SEC continues to process a heightened volume of ETF applications, Bitwise filed for an Aptos ETF.

Bitwise Applies For Aptos ETF

Last week, Bitwise made the Delaware Trust application for an Aptos ETF. This new application is a logical progression as it seeks to convert the pre-existing Trust into a fully-fledged ETF.

This is a standard practice for crypto ETFs, where an initial Trust filing paves the way for a subsequent ETF application.

The initial Trust paperwork from last week sparked a price spike in Aptos, and today’s new filing has further fueled bullish momentum.

Aptos surged more than 18% with the ETF filing, whereas last week’s Trust paperwork only led to a 10% surge in the coin.

Several factors might contribute to this heightened optimism. As the process moves forward, these successive developments are likely to reach a wider audience, which could interest more investors in Aptos.

Another crucial factor is President Trump’s recent announcement of a Crypto Reserve plan.

This new initiative wouldn’t limit itself to Bitcoin but would also involve the U.S. buying various cryptocurrencies that are “Made in the USA.”

While Aptos isn’t the largest asset on Trump’s list, it does qualify, especially considering Aptos has been expanding its presence in the U.S. market.

Recently, Aptos forged a partnership with Circle to facilitate USDC integration into the Aptos ecosystem, bringing the Aptos token to a broader audience.

However, it’s still early in the process, and the SEC is currently focused on a large backlog of new ETF applications.

Despite this, any news related to Aptos ETF is positive, considering the prevailing extreme fear in the crypto market.