The crypto ETF market is expanding beyond Bitcoin and Ethereum, with Bitwise moving toward the launch of an Aptos ETF in the U.S.
Bitwise Moves Toward an Aptos ETF
On February 25, Bitwise registered the 'Bitwise Aptos ETF' entity in Delaware. This is a precursor to filing an S-1 form with the U.S. Securities and Exchange Commission (SEC). If approved, the ETF will allow investors to gain exposure to Aptos tokens without directly managing the cryptocurrency.
Why This Filing Matters
For years, Bitcoin and Ethereum have dominated the ETF space. Now, asset managers are exploring ETFs for alternative cryptocurrencies. Bitwise's Aptos ETF filing reflects a broader trend of altcoin ETFs gaining traction. This indicates that investors are looking beyond the current blockchain infrastructure.
How the Approval Process Works
After the Delaware registration, Bitwise needs to submit a full ETF application to the SEC. This includes a prospectus, details on how the ETF will track Aptos prices, and risk disclosures. The process may take several months, during which the SEC can approve, reject, or request modifications to the proposal.
A U.S.-approved ETF would provide easier access to Aptos for investors, potentially boosting APT's trading volume and liquidity.
