- Bitwise files for Aptos ETF in Delaware, signaling growing institutional interest in altcoin-based investment products.
- SEC acknowledges Bitwise’s XRP ETF as a Commodity-Based Trust, boosting optimism for altcoin ETF approvals.
Bitwise Asset Management has taken the initial step toward launching an Aptos (APT) exchange-traded fund (ETF) in the United States. The company has registered a Delaware trust for the proposed Aptos ETF, signaling its intent to introduce the investment product to institutional and retail investors.
The move follows the launch of Aptos exchange-traded products (ETPs) in Europe, including the Bitwise Aptos Staking ETP and the 21Shares Aptos Staking ETP. News of the filing has fueled market interest, driving APT’s price up by 12.4% in the past 24 hours.
Bitwise Files for Aptos ETF as U.S. Crypto Fund Competition Grows
Bitwise registered the Aptos ETF entity in Delaware on February 25, marking an early step before formal regulatory submission. While the filing does not ensure immediate approval, it positions Bitwise as the first asset manager pursuing an ETF directly linked to APT tokens in the U.S.
According to official documents, the BITWISE APTOS ETF has been registered in Delaware, USA. Earlier, several APTOS ETPs have been launched in Europe, including Bitwise Aptos Staking ETP and 21Shares Aptos Staking ETP.https://t.co/4Rf68MFcdO
— Wu Blockchain (@WuBlockchain) February 27, 2025
The next phase requires Bitwise to submit a formal application to the U.S. Securities and Exchange Commission (SEC). This will involve detailing the ETF’s structure, investment strategy, and how it plans to track Aptos’ market performance. The SEC will then review the application, which could take months, with the possibility of approval, rejection, or requests for modifications.
If approved, the Aptos ETF would enable investors to gain exposure to APT without holding or managing the asset directly. This could increase liquidity and further institutional adoption, similar to the trend seen with Bitcoin and Ethereum ETFs.
Aptos ETF Joins Expanding Altcoin Investment Trend
Bitwise’s move reflects a broader shift in the crypto investment landscape, where asset managers are expanding beyond Bitcoin and Ethereum to explore ETFs for alternative cryptocurrencies. The firm has previously filed for ETFs tied to XRP, Solana, and Dogecoin, signaling growing demand for diversified crypto investment products.
In Europe, Aptos ETPs have already gained traction, with Bitwise launching an Aptos Staking ETP across six Swiss exchanges in November 2024. Around the same time, 21Shares introduced its own Aptos Staking ETP on Euronext Amsterdam and Paris. These investment products allow institutional investors to earn staking rewards while maintaining exposure to APT.
The push for an Aptos ETF comes as the broader crypto market evolves, with investors seeking more regulated avenues for exposure to digital assets. The expansion of crypto ETFs beyond major tokens suggests increasing institutional confidence in blockchain projects with strong technical foundations.
APT Price Surges as Investors React to ETF Filing
Following the Delaware filing, APT’s market price surged, reflecting investor optimism. The token, currently ranked 36th by market capitalization, climbed 12.4% in the last 24 hours, with trading volume increasing by 14.15% to $336.42 million.
JUST IN: Bitwise registered Aptos$APT ETF in Delaware. 🔥$APT price pumped to $6.5 after this news came out 📈 pic.twitter.com/4gJVIgH8Vk
— Zia ul Haque (@ImZiaulHaque) February 27, 2025
Aptos, a Layer 1 blockchain, was developed by former Meta (Facebook) engineers who previously worked on the Diem project. The network uses the Move programming language, designed to enhance security and efficiency in smart contract execution. With scalability and reliability at its core, Aptos has positioned itself as a competitive player in the blockchain sector.
As Bitwise moves forward with the SEC approval process, the crypto market is watching closely for further developments. Several asset managers are actively submitting applications for altcoin exchange-traded funds (ETFs) as competition in the sector intensifies. Grayscale recently filed a 19b-4 proposal with the U.S. Securities and Exchange Commission (SEC) to list the Grayscale Polkadot Trust. Meanwhile, Canary Capital has also submitted a 19b-4 filing seeking approval for a spot HBAR ETF.
Ethnews reported that the SEC has officially acknowledged Bitwise’s XRP ETF filing, categorizing it as a Commodity-Based Trust. While this classification marks progress in the regulatory review, it does not confirm XRP’s legal status as a commodity.
