Bitwise Files to Launch Aptos ETF

Key Points

  • Bitwise has submitted paperwork to launch an ETF tracking the price of Aptos (APT).
  • The asset manager hinted at this move last week by filing for a Delaware trust entity.
  • Bitwise officially filed an S-1 document with the SEC on Wednesday.
  • A 19b-4 filing is also required for the ETF launch, signaling a rule change at the stock exchange.
  • APT's price surged 18% in the last 24 hours, trading at $6.48 at press time.

Summary

Bitwise, an asset management firm, has taken significant steps towards launching an exchange-traded fund (ETF) that will track the price of Aptos (APT), the native token of the Aptos network. The firm initially hinted at this development last week by filing for a Delaware trust entity, which is a precursor to such financial products. On Wednesday, Bitwise made its intentions official by submitting an S-1 document to the Securities and Exchange Commission (SEC), a necessary step for companies looking to issue new securities and list them on public stock exchanges. Additionally, to proceed with the ETF launch, Bitwise will need to file a 19b-4 document, which indicates a rule change at the stock exchange where the ETF will be listed, binding the SEC to a strict timeline for approval. Following these announcements, APT experienced a notable price increase, rising 18% over the past 24 hours to reach $6.48 at the time of reporting.

coindesk
March 5, 2025
Crypto
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