Bitwise Asset Management has made a notable step towards launching an exchange-traded fund (ETF) dedicated to Aptos (APT) by filing for a Delaware trust. This makes Bitwise the first asset manager to pursue an Aptos ETF.
Aptos (APT) ETF Launch
Bitwise Asset Management filed for a Delaware trust registration on February 25, as a preliminary step in the creation of an Aptos ETF, which does not guarantee immediate approval.
SEC Application Submission
The next step will be for Bitwise to submit a formal application to the SEC, containing the outlines of the ETF’s structure, strategies, and plans about how it will track the asset. The SEC will review the application to decide whether to approve, reject, or request modifications.
Aptos Price Surge Amid News
The ETF filing sparked a 10.05% increase in APT price. At the time of writing, it is trading at $6.18 with a market cap of $3.64 billion. Its daily trading volume also increased by 43.68% to $347.41 million.
The launch of the Aptos ETF could allow institutional and retail investors to invest in APT without purchasing the token directly. This is a significant development in the realm of cryptocurrency ETFs.
