Bitwise’s Aptos ETF Filing Sparks 12% Surge in APT Token Price
Bitwise Asset Management takes an important step in launching APTOS-focused exchange funds (ETFs) by registering an APTOS ETF entity in Delaware. The document, filed to the Delaware Corporate Department on February 25, shows that the company’s intention is to introduce ETFs centered on the 1-tier cryptocurrency Aptos. Although the move cannot be approved immediately, it is an important part of the regulatory process.
A blockchain researcher wrote on X: “According to official documents, the aptos ETF based in Delaware, USA has been registered! Earlier, several Aptos ETPs were launched in Europe, including APTOS Staking ETP and 21shares Aptos Staking ETP.”
The next critical phase involves filing a formal application with the Securities and Exchange Commission (SEC). The app will include a comprehensive prospectus detailing the structure of the ETF, investment strategies and how it plans to track the performance of the Aptos blockchain.
The application comes at a time when regulatory sentiment on cryptocurrencies is changing, especially under new leadership. The news for the file had an impressive impact on the price of Aptos (APT), which soared 12% after the announcement. In the past 24 hours, APT has dropped to $6.31 and then hit the reverse. The token, along with Bitcoin and other coins, is currently experiencing a bearish position.
Bitwise has caused waves in the crypto ETF market, and has applied for several crypto-related ETFs in the past, including driving XRP ETFs. If successful, the Aptos ETF could pave the way for further Altcoin ETFs, providing investors with new ways to diversify their portfolios through digital assets.
