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Bitwise Files to Launch Aptos ETF
The asset manager submitted paperwork with the Securities and Exchange Commission (SEC) for the fund on Wednesday.
What to know:
- Bitwise has filed an S-1 filing with the Securities and Exchange Commission to launch an exchange-traded fund tracking Aptos (APT).
- APT is the native token of the Aptos network.
- The asset manager hinted at the move last week when it filed to create a Delaware trust entity for a proposed Aptos ETF.
Bitwise has submitted paperwork to launch an exchange-traded fund (ETF) tracking the price of Aptos (APT), the native token of the Aptos network.
STORY CONTINUES BELOW
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The asset manager hinted at the move last week when it filed to create a Delaware trust entity for a proposed Aptos ETF. APT is a scalable layer 1 blockchain token based on the Move programming language.
On Wednesday, Bitwise filed an S-1 document with the Securities and Exchange Commission, making its plans official. The S-1 filing is a requirement for companies seeking to issue a new security and be listed on a public stock exchange.
To launch such a fund, the asset manager will also have to file a 19b-4 filing, which is required to signal a requisite rule change at the stock exchange seeking to list the investment and ties the SEC to a strict deadline.
APT was trading 18% higher over the past 24 hours, at a price of $6.48 at press time.
Helene Braun
Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
