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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.

An Aptos shirt from EthDenver (Danny Nelson)
An Aptos shirt from EthDenver (Danny Nelson)

Lo que debes saber:

  • 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.

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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 markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a 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.

Helene Braun