Bitwise Files for Groundbreaking Aptos ETF with SEC

Bitwise’s ETF Filing Strategy

On March 5, 2025, Bitwise submitted an S-1 registration statement to the SEC, signaling its intent to launch a spot Aptos ETF. If approved, this ETF would provide investors with regulated exposure to Aptos, a Layer 1 blockchain known for its high scalability and security. The ETF would track the price of APT, allowing both institutional and retail investors to invest in the cryptocurrency without the challenges of direct ownership.

This filing follows Bitwise’s prior registration of the "Bitwise Aptos ETF" as a statutory trust in Delaware on February 25, 2025. Establishing the trust was a key preparatory step before the SEC filing, positioning Bitwise as the first U.S. asset manager to propose an ETF holding APT tokens directly.

What is Aptos (APT)?

Aptos is a next-generation Layer 1 blockchain designed for scalability and security. It was developed by former engineers from Meta (formerly Facebook) and utilizes the Move programming language—originally created for Meta’s defunct Diem project. Aptos has gained traction for its innovative approach to smart contracts and transaction efficiency, making it an attractive asset for investors looking beyond Bitcoin and Ethereum.

Market Reaction to the News

Following the announcement of Bitwise’s ETF filing, Aptos (APT) saw a sharp price surge of approximately 18%, reaching $6.48 within 24 hours. This price movement indicates strong market enthusiasm and optimism that an Aptos ETF could attract significant investor interest.

SEC’s Regulatory Review Process

The SEC’s approval process for new ETFs involves rigorous scrutiny to ensure compliance with investor protection measures and regulatory standards. The review period can take several months, with potential feedback and amendments required before approval. However, Bitwise’s proactive regulatory approach—including the earlier Delaware trust registration—suggests they are strategically positioning the fund for a smoother approval process.

Bitwise’s Expansion into Altcoin ETFs

Bitwise has been actively exploring ETFs beyond Bitcoin and Ethereum, with past filings for ETFs based on cryptocurrencies such as Dogecoin and XRP. Their Aptos ETF proposal aligns with their broader strategy of diversifying crypto investment options and catering to investors seeking exposure to emerging blockchain projects.

Implications for Investors

If approved, the Bitwise Aptos ETF would provide a regulated and accessible investment vehicle for those looking to gain exposure to Aptos without directly purchasing and storing the tokens. This could be particularly appealing to institutional investors, as ETFs typically offer certain tax advantages and simplify the investment process compared to direct crypto ownership.

The Rise of Altcoin ETFs

Bitwise’s Aptos ETF filing is part of a larger trend in the crypto investment space. Other asset managers have also been eyeing altcoin-based ETFs, indicating that demand for diverse crypto investment options is rising. In November 2024, 21Shares launched an Aptos Staking ETP on Euronext Amsterdam and Paris, marking a significant step toward institutional adoption of altcoin-based financial products.

Bitwise’s move to file for an Aptos ETF represents a major milestone in the cryptocurrency market’s evolution. By introducing a regulated investment vehicle focused on Aptos, Bitwise is expanding investor access to promising blockchain projects. As the SEC review unfolds, the crypto community will be watching closely, as a successful approval could pave the way for more altcoin ETFs in the U.S. and further institutional adoption of digital assets.