The post Crypto News: Bitwise’s Aptos ETF Filing Sparks 12% Surge in APT Token Price appeared first on Coinpedia Fintech News
Bitwise Asset Management has taken a major step towards launching an Aptos-focused exchange-traded fund (ETF) by registering an Aptos ETF entity in Delaware. The filing, submitted on February 25 to the Delaware Division of Corporations, signals the company’s intention to introduce a spot ETF centered on the layer-1 cryptocurrency Aptos. While this move does not guarantee immediate approval, it is an important part of the regulatory process.
A Blockchain Researcher wrote on X, “According to official documents, the BITWISE APTOS ETF has been registered in Delaware, USA! Earlier, several APTOS ETPs were launched in Europe, including Bitwise Aptos Staking ETP and 21Shares Aptos Staking ETP.”
The next crucial phase involves submitting a formal application to the U.S. Securities and Exchange Commission (SEC). This application will include a comprehensive prospectus detailing the ETF’s structure, investment strategy, and how it plans to track the performance of the Aptos blockchain.
This filing comes at a time when regulatory sentiment toward cryptocurrency is shifting, especially under new leadership. The news of the filing has had an impressive effect on the price of Aptos (APT), which surged by 12% following the announcement. APT hit a high of $6.31 in the last 24 hours before hitting a reverse. The token, along with Bitcoin and other coins, is currently experiencing a bearish dip.
Bitwise has already made waves in the crypto ETF market, having filed for several crypto-related ETFs in the past, including a push for the XRP ETF. If successful, the Aptos ETF could pave the way for further altcoin ETFs, offering investors new ways to diversify their portfolios with digital assets.