Bitwise has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot ETF providing investors direct access to the APT token of the Aptos blockchain.
What is Aptos (APT)?
Aptos is a layer-1 blockchain designed for scalability, security, and efficiency in decentralized applications. It uses the Move programming language, developed by former Meta engineers, to enhance the safety and performance of smart contracts. Despite its potential, Aptos remains a high-risk asset, currently ranked 36th by market capitalization, with a total market value of $3.7 billion. The token has experienced significant volatility but continues to attract developers and liquidity providers in the DeFi sector.
Inside Bitwise’s APT ETF Filing
The S-1 registration is a key step toward issuing new securities and listing them on an exchange. The Bitwise Aptos ETF will hold APT tokens and track the CF Aptos–Dollar Settlement Price. It will be managed by Bitwise, with an annual management fee. The main custodian will be Coinbase Custody Trust Company. The ETF will be cash-settled, and APT holdings will be stored in cold wallets. Transactions will be limited to whitelisted addresses, ensuring security and regulatory compliance.
Why This Matters for Crypto ETFs
Bitwise is at the forefront of crypto ETF innovation, managing a range of single-asset and multi-token ETFs. The firm's latest filing indicates growing institutional interest in emerging layer-1 blockchains like Aptos. APT remains a volatile asset, with price fluctuations influenced by ecosystem growth and token unlocks. Only 45% of the APT supply is currently unlocked, with vesting schedules extending until 2032. The Aptos ecosystem holds $996 million in DeFi liquidity, making it competitive in the non-EVM space. Following Bitwise’s ETF announcement, APT surged 15%, reaching $6.3. Aptos is also under review by Grayscale for potential inclusion in its investment products, which could drive higher liquidity and adoption.
Bitwise’s application for the first U.S. spot ETF on Aptos can open new opportunities for traditional investors and strengthen APT's position while marking a significant step towards integrating cryptocurrency assets into traditional financial markets.
