Bitwise Files with SEC to Launch Aptos ETF
Bitwise has officially submitted a filing with the Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will track the price of Aptos (APT), the native token of the Aptos blockchain.
The asset manager had signaled its intentions last week by registering a Delaware trust entity for the proposed Aptos ETF. Aptos is a high-performance Layer 1 blockchain built using the Move programming language, designed for scalability and efficiency.
On Wednesday, Bitwise made its plans official by submitting an S-1 filing to the SEC, a necessary step for any company looking to issue a new security on a public stock exchange. To move forward, Bitwise will also need to file a 19b-4 form, which would trigger a required rule change at the stock exchange where the ETF is set to be listed, setting a definitive timeline for the SEC’s review process.
Following the news, Aptos (APT) saw an 18% surge over the past 24 hours, trading at $6.48 at press time.
