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Cryptocurrency News Articles
Bitwise Registers Interest in Launching an Aptos (APT) ETF
Feb 27, 2025 at 08:45 pm
The Aptos (APT) token defied the broader crypto market downturn, surging over 8% after Bitwise registered an interest in launching a spot exchange-traded fund (ETF) focused on the asset.
Aptos (APT) token price rose more than 8% on Monday, outperforming the broader crypto market as the major cryptocurrencies slipped from recent highs.
The Aptos (APT) token price is up more than 8% in the past 24 hours. The token has outperformed the top 50 digital assets in the past 24 hours, according to the cryptocurrency price tracker.
The token is trading hands at $6.15, at press time.
Why is Aptos price surging?
Aptos is a rising layer-1 blockchain developed by Aptos Labs to improve transaction speed and scalability. The network has seen more than six million unique addresses interact with applications on the chain in the past 30 days, according to Token Terminal.
The interest in Aptos appears to be heating up as the price has surged past key resistance levels in recent days.
The price action could be related to an announcement by Bitwise, which is known for its Bitcoin and Ethereum exchange-traded funds (ETFs).
The company has registered an interest in launching an Aptos ETF, which would expand Bitwise’s existing portfolio of spot crypto ETFs.
Earlier this year, Bitwise filed for a Dogecoin ETF, further demonstrating its commitment to broadening its digital asset offerings.
Specifically, Bitwise filed an application for the "Bitwise Large Cap Cryptocurrency Index Fund" with Delaware's Department of State on February 26.
This move suggests that the firm may soon submit an S-1 application to the US Securities and Exchange Commission (SEC), potentially making it the first in the country to introduce an ETF holding APT tokens directly.
If approved, the proposed ETF would become part of Bitwise's existing series of crypto ETFs, which currently include Bitcoin and Ethereum.
The company is also planning to launch an ETF that would track a broad-based cryptocurrency index.
This aligns with growing investor interest in Aptos-based investment products. In European markets, issuers like 21Shares already offer Aptos exchange-traded products (ETPs).
Crypto ETFs momentum
The Aptos ETF registration aligns with a broader surge in crypto-related ETF filings in the US.
Over the past months, several asset managers have been actively pursuing regulatory approval for various crypto investment products, fueled by what appears to be a more accommodating approach from the SEC.
While an ETF filing does not guarantee approval, the SEC's engagement with issuers has bolstered investor confidence in the future of digital asset funds.
This development follows a year of stalled ETF applications and the SEC's rejection of several Bitcoin futures ETF proposals. However, recent activity suggests a shift in the regulator's stance.
Earlier this year, the SEC approved the first Bitcoin futures ETFs from ProShares and Bिटवाइस. These ETFs, which began trading in October 2021, provide indirect exposure to Bitcoin.
Moreover, the SEC has also engaged with issuers regarding spot Bitcoin ETF proposals, indicating a potential opening for such products in the coming months.
This aligns with increasing demand from institutional investors for Bitcoin ETFs, which offer a more direct and efficient way to invest in the cryptocurrency.
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- Whale Accumulation Sparks Optimism as PEPE Coin (PEPE) Rallies 7.23%
- Apr 03, 2025 at 05:40 am
- The latest rally follows a series of volatile movements that saw PEPE struggling to hold key support levels. However, renewed buying interest, particularly from large investors, has fueled speculation about an extended rally.