Aptos（APT）fot ETF通过位资产管理的应用程序在加密货币市场中引发了新的兴奋

2025年3月上旬，Bitwise Asset Management，Inc。向SEC提交了一份S-1注册声明，以启动APTOS现货交易所交易基金（ETF），在加密货币市场引起了新的兴奋。

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注册声明，以提供APTOS现货交换基金（ETF）。此举在加密货币市场引起了新的兴奋。

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以其尖端的区块链架构和闪电般的交易而闻名，在新的一年中正在迅速获得关注。它进入ETF领域，加入了几个项目以确保主流投资产品的持续努力。

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现场ETF如何工作，其对市场的潜在影响以及其面临的监管障碍。它还探讨了潜在批准对Altcoin Investments的未来的重要性。这可能是推动Aptos推向区块链至高无上的举动吗？

What is an Aptos Spot ETF?

什么是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现货ETF是一种交换贸易基金，物理上持有Aptos（APT）加密货币并跟踪其价格。它为投资者提供了APTO的市场绩效，而无需拥有资产本身。

How would an Aptos Spot ETF work?

Aptos斑点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现场ETF将由授权参与者（AP）（通常是大型金融机构）资助，这些机构在创建和赎回ETF股票中起着至关重要的作用。为了创建股票，美联社将从公开市场或直接从交易所购买Aptos代币，并将其转移到ETF中以换取新发行的股票。 ETF可能会通过专门的托管服务以安全的方式存储Aptos代币。

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将通过引用特定的定价基准（例如CF Aptos-Boldrar和解价格）来跟踪APTO（APT）的价值，该基准汇总了来自主要交易平台的数据，以确保准确衡量APT代币的市场价值。

Creation and redemption of Aptos Spot ETF shares

Aptos现场ETF股票的创建和赎回

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的股票由大块（称为篮子）创建和赎回，通常由10,000股组成。 APS有助于保持流动性，并确保ETF的价格与基础资产的价值保持一致。

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.

在创建过程中，美联社将提供现金，其金额等于他们希望创建的aptos ETF股票的价值。然后，该基金的赞助商将使用这笔现金从预先批准的交易对手那里获取Aptos令牌，后者独立于APS运营。获得令牌后，ETF将向美联社发出相应的股份，然后他们可以在公开市场上出售它们。

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，对于赎回过程，希望兑换Aptos ETF股份的AP将将指定的股份股份退还给基金。作为回报，美联社将获得现金，其金额等于基础aptos代币的价值。为了资助这种赎回，赞助商将安排出售所需的Aptos代币以批准的交易对手，并将现金收益用于满足AP的赎回请求。

Listing and pricing of shares

股票上市和定价

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.

创建后，Aptos ETF的股票将在公共证券交易所上市和交易，使投资者可以在市场时间内买卖它们。投资者可以像交易传统股票一样交易Aptos ETF股票。 ETF提供商将收取监督基金业务的年度管理费。该费用将为提供商管理基金并确保其与基础资产的绩效保持一致。

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.

这种机制可确保Aptos现货ETF与Aptos代币的市场价值保持紧密相符，同时为投资者提供了交易ETF股票在传统金融市场上的便利性。

Current landscape of Aptos Spot ETFs

Aptos Spot ETF的当前景观

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，位资产管理（NYSE：BITW）向美国证券交易委员会（SEC）提交了S-1注册声明（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.

为了解决监管问题，Bitwise决定将Aptos ETF的股份排除在外。 Staking允许用户通过持有加密货币而不是出售其奖励，但这可能会使SEC的ETF结构和问题复杂化。

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仍然需要为其Aptos Spot ETF应用程序提交SEC 19b-4表格。 SEC承认收到19b-4的收到后，审核过程将正式开始，这可能需要几个月的时间。

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.

随着SEC目前正在与越来越多的点ETF应用程序进行斗争，Bitwise的申请有望引起大幅关注。该应用程序的结果可能为美国Altcoin ETF的未来树立重要的先例

Current impact of Aptos Spot ETF applications on the crypto market

Aptos现场ETF应用程序对加密市场的当前影响

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申请Aptos ETF对加密货币市场产生了直接和积极的影响。为了回应新闻，Aptos（APT）经历了显着的价格上涨，