Bitwise files S-1 registration for a Aptos ETF as number of potential altcoin-based funds swells
Quick Take
- Last week, the crypto asset manager previously registered a “Bitwise Aptos ETF” entity in Delaware, according to the official registration portal.
- In November, Bitwise launched an Aptos Staking ETP on Six Swiss Exchange.
Bitwise filed an S-1 registration with the U.S. Securities and Exchange Commission on Wednesday for a spot Aptos exchange-traded fund, or the Bitwise Aptos ETF.
Last week, the crypto asset manager made the initial step of submitting a registration filing in Delaware, according to the official registration portal.
Aptos could become one of several other potential altcoin ETFs poised to eventually hit the market given a U.S. government which appears keen to remove regulatory obstacles impeding the issuing of digital asset-related investment products. Bitwise, for its part, has also filed to launch Dogecoin and XRP exchange-traded funds.
Ranked by a market cap of about $3.8 billion, Aptos' APT token is the world's 36th largest cryptocurrency, according to The Block's Price Page. Aptos, a Layer-1 blockchain, has been developed by Aptos Labs. The chain's developers aspire to create a more efficient, scalable and user-friendly platform for decentralized applications and smart contracts.
In November, Bitwise launched an Aptos Staking ETP on Six Swiss Exchange, and rival firm 21Shares launched an Aptos Staking ETP in Euronext Amsterdam and Paris.
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