Asset Manager Bitwise Files For Aptos ETF With SEC

Asset manager, Bitwise Invest, has taken another step towards expanding its crypto investments by filing an S-1 registration statement with the United States Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking Aptos (APT). The latest move positions Bitwise as the first management firm to pursue an ETF dedicated to Aptos, a scalable Layer 1 blockchain token.

The filing outlines Bitwise’s intention to list the Bitwise Aptos (APT) ETF, with Coinbase Custody proposed as the fund’s custodian. Notably, Bitwise has opted not to include a staking feature for the proof-of-stake-powered Aptos blockchain. The initial filing did not include details such as the specific stock exchange for listing, proposed fees, or ticker symbol. 

Bitwise previously launched an Aptos Staking ETP on Switzerland’s SIX Swiss Exchange in November 2024, offering a 4.7% staking yield. With this new filing, the company is looking to expand its crypto ETF options beyond BTC and ETH, showing increasing interest from institutions in altcoin investments.

APT Surges 7.27% 

Following the announcement, APT saw a significant increase in price. The token jumped 7.27% over the past 24 hours, reaching $6.17 at the time of writing. The surge underscores investor optimism and the potential for increased mainstream adoption of Aptos through regulated investment products. 

Founded in 2021 by former Meta (Facebook) employees Mo Shaikh and Avery Ching, the L1 blockchain is designed to be fast and cost-effective. Aptos has a market capitalization of over $3.6 billion, ranking 32 among crypto assets. 

Increased ETF Filings

The latest move came as digital asset firm Grayscale filed for Polkadot ETF with the SEC. According to the filing, Grayscale proposed listing the Polkadot ETF on Nasdaq under the exchange’s rules for commodity-based trust shares. If approved, this would allow investors to trade DOT-like stocks without directly purchasing or storing the crypto asset.

Each share will represent a fraction of the Grayscale Polkadot Trust’s (DOT) total holdings. The Trust operates by issuing shares in exchange for DOT, fluctuating their value based on DOT’s market price. 

Grayscale is not the only asset manager that is seeking SEC approval. On February 12, the U.S. SEC recognized several filings for Solana-based exchange-traded products (ETPs), moving the market closer to introducing new financial vehicles centered on altcoins. The recognition follows a broader trend of increased regulatory engagement with Solana-based products.