Aptos（APT）fot ETF通過位資產管理的應用程序在加密貨幣市場中引發了新的興奮

2025年3月上旬，Bitwise Asset Management，Inc。向SEC提交了一份S-1註冊聲明，以啟動APTOS現貨交易所交易基金（ETF），在加密貨幣市場引起了新的興奮。

Early March 2025 saw the filing of an S-1 registration statement with the SEC by Bitwise Asset Management, Inc. (NYSE: BITW) for an Aptos Spot exchange-traded fund (ETF). This move sparked fresh excitement in the crypto market.

2025年3月上旬，Bitwise Asset Management，Inc。 （NYSE：BITW）向SEC提交了S-1註冊聲明，以提供APTOS現貨交換基金（ETF）。此舉在加密貨幣市場引起了新的興奮。

Aptos, known for its cutting-edge blockchain architecture and lightning-fast transactions, is rapidly gaining traction in the new year. Its entry into the ETF realm joins the ongoing efforts of several projects to secure mainstream investment products.

Aptos以其尖端的區塊鏈架構和閃電般的交易而聞名，在新的一年中正在迅速獲得關注。它進入ETF領域，加入了幾個項目以確保主流投資產品的持續努力。

This article delves into how an Aptos Spot ETF would work, its potential impact on the market, and the regulatory hurdles it faces. It also explores the significance of potential approval for the future of altcoin investments. Could this be the move that propels Aptos to blockchain supremacy?

本文深入研究了Aptos現場ETF如何工作，其對市場的潛在影響以及其面臨的監管障礙。它還探討了潛在批准對Altcoin Investments的未來的重要性。這可能是推動Aptos推向區塊鏈至高無上的舉動嗎？

What is an Aptos Spot ETF?

什麼是Aptos ETF？

An Aptos Spot ETF is an exchange-traded fund that physically holds the Aptos (APT) cryptocurrency and tracks its price. It provides investors with exposure to the market performance of Aptos without needing to own the asset itself.

APTOS現貨ETF是一種交換貿易基金，物理上持有Aptos（APT）加密貨幣並跟踪其價格。它為投資者提供了APTO的市場績效，而無需擁有資產本身。

How would an Aptos Spot ETF work?

Aptos斑點ETF如何工作？

An Aptos Spot ETF would be funded by authorized participants (APs), typically large financial institutions, who play a crucial role in the creation and redemption of ETF shares. To create shares, APs would purchase Aptos tokens, either from the open market or directly from exchanges, and transfer them to the ETF in exchange for newly issued shares. The ETF would store the Aptos tokens in a secure manner, likely through specialized custodial services.

APTOS現場ETF將由授權參與者（AP）（通常是大型金融機構）資助，這些機構在創建和贖回ETF股票中起著至關重要的作用。為了創建股票，美聯社將從公開市場或直接從交易所購買Aptos代幣，並將其轉移到ETF中以換取新發行的股票。 ETF可能會通過專門的託管服務以安全的方式存儲Aptos代幣。

The ETF would track the value of Aptos (APT) by referencing a specific pricing benchmark, such as the CF Aptos-Dollar Settlement Price, which aggregates data from major trading platforms to ensure an accurate measure of the APT token’s market value.

ETF將通過引用特定的定價基準（例如CF Aptos-Boldrar和解價格）來跟踪APTO（APT）的價值，該基準匯總了來自主要交易平台的數據，以確保准確衡量APT代幣的市場價值。

Creation and redemption of Aptos Spot ETF shares

Aptos現場ETF股票的創建和贖回

Shares of the Aptos ETF are created and redeemed in large blocks, known as Baskets, which typically consist of 10,000 shares. APs are instrumental in maintaining liquidity and ensuring that the ETF’s price remains closely aligned with the value of the underlying asset.

Aptos ETF的股票由大塊（稱為籃子）創建和贖回，通常由10,000股組成。 APS有助於保持流動性，並確保ETF的價格與基礎資產的價值保持一致。

In the creation process, an AP would deliver cash for an amount equal to the value of the Aptos ETF shares they wish to create. The fund’s sponsor would then use this cash to acquire Aptos tokens from pre-approved trading counterparties, who operate independently of the APs. Once the tokens are acquired, the ETF would issue the corresponding number of shares to the AP, who could then sell them on the open market.

在創建過程中，美聯社將提供現金，其金額等於他們希望創建的aptos ETF股票的價值。然後，該基金的讚助商將使用這筆現金從預先批准的交易對手那裡獲取Aptos令牌，後者獨立於APS運營。獲得令牌後，ETF將向美聯社發出相應的股份，然後他們可以在公開市場上出售它們。

Conversely, for the redemption process, an AP wishing to redeem shares of the Aptos ETF would return the specified number of shares to the fund. In return, the AP would receive cash for an amount equal to the value of the underlying Aptos tokens. To fund this redemption, the sponsor would arrange for the sale of the required Aptos tokens to approved counterparties, and the cash proceeds would be used to fulfill the AP’s redemption request.

相反，對於贖回過程，希望兌換Aptos ETF股份的AP將將指定的股份股份退還給基金。作為回報，美聯社將獲得現金，其金額等於基礎aptos代幣的價值。為了資助這種贖回，贊助商將安排出售所需的Aptos代幣以批准的交易對手，並將現金收益用於滿足AP的贖回請求。

Listing and pricing of shares

股票上市和定價

Once created, shares of the Aptos ETF would be listed and traded on public stock exchanges, allowing investors to buy and sell them during market hours. Investors could trade the Aptos ETF shares in the same way they trade traditional stocks. The ETF provider would charge an annual management fee for overseeing the fund’s operations. This fee would compensate the provider for managing the fund and ensuring that it remains in close alignment with the performance of the underlying asset.

創建後，Aptos ETF的股票將在公共證券交易所上市和交易，使投資者可以在市場時間內買賣它們。投資者可以像交易傳統股票一樣交易Aptos ETF股票。 ETF提供商將收取監督基金業務的年度管理費。該費用將為提供商管理基金並確保其與基礎資產的績效保持一致。

This mechanism ensures that the Aptos Spot ETF stays closely aligned with the market value of Aptos tokens, while offering investors the convenience of trading ETF shares on traditional financial markets.

這種機制可確保Aptos現貨ETF與Aptos代幣的市場價值保持緊密相符，同時為投資者提供了交易ETF股票在傳統金融市場上的便利性。

Current landscape of Aptos Spot ETFs

Aptos Spot ETF的當前景觀

On Mar 5, 2025, Bitwise Asset Management (NYSE:BITW) submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for an Aptos Spot ETF.

在2025年3月5日，位資產管理（NYSE：BITW）向美國證券交易委員會（SEC）提交了S-1註冊聲明（SEC）。

In a move to address regulatory concerns, Bitwise has decided to exclude a staking provision from the Aptos ETF. Staking allows users to earn rewards by holding their cryptocurrency instead of selling it, but this can complicate ETF structures and issues with the SEC.

為了解決監管問題，Bitwise決定將Aptos ETF的股份排除在外。 Staking允許用戶通過持有加密貨幣而不是出售其獎勵，但這可能會使SEC的ETF結構和問題複雜化。

However, Bitwise will still need to submit an SEC Form 19b-4 for its Aptos Spot ETF application. Once the SEC acknowledges receipt of the 19b-4, the review process will officially begin, which could take several months.

但是，Bitwise仍然需要為其Aptos Spot ETF應用程序提交SEC 19b-4表格。 SEC承認收到19b-4的收到後，審核過程將正式開始，這可能需要幾個月的時間。

With the SEC currently grappling with an increasing number of Spot ETF applications, Bitwise’s filing is expected to draw significant attention. The outcome of this application could set an important precedent for the future of altcoin ETFs in the U.S.

隨著SEC目前正在與越來越多的點ETF應用程序進行鬥爭，Bitwise的申請有望引起大幅關注。該應用程序的結果可能為美國Altcoin ETF的未來樹立重要的先例

Current impact of Aptos Spot ETF applications on the crypto market

Aptos現場ETF應用程序對加密市場的當前影響

The announcement of Bitwise’s filing for an Aptos Spot ETF had an immediate and positive effect on the crypto market. In response to the news, Aptos (APT) experienced a notable price surge,

宣布Bitwise申請Aptos ETF對加密貨幣市場產生了直接和積極的影響。為了回應新聞，Aptos（APT）經歷了顯著的價格上漲，