Bitwise, one of the leading crypto asset managers, has officially filed an S-1 registration with the U.S. Securities and Exchange Commission for a spot Aptos ETF.
This follows its recent registration of a Bitwise Aptos ETF entity in Delaware, signalling its intent to launch a product that provides direct exposure to the Aptos blockchain’s native token.
Aptos Joins the Growing List of Altcoin ETF Candidates
The crypto ETF market has developed significantly since the launch of Bitcoin and Ethereum spot ETFs, with asset managers now turning their attention to altcoins. Bitwise has been at the forefront of this expansion, recently filing for Dogecoin and XRP ETFs alongside its latest Aptos ETF bid.
Aptos, a Layer-1 blockchain, has steadily gained traction due to its high throughput, Move-based smart contract execution, and focus on user-friendly decentralized applications. Despite its market cap of approximately $3.8 billion, ranking it as the 36th largest cryptocurrency, the token has been demonstrating growing adoption and liquidity, making it an attractive candidate for institutional investment.
Bitwise’s move follows the November 2024 launch of its Aptos Staking ETP on six Swiss exchanges, a product designed to offer European investors exposure to APT staking rewards. In parallel, 21Shares introduced an Aptos Staking ETP in Amsterdam and Paris, further solidifying institutional interest in the blockchain.
The ETF filing aims to give U.S. investors a regulated and accessible way to gain exposure to Aptos without direct token purchases. If approved, Bitwise will be the first issuer to bring an APT-based ETF to the U.S. market.
Why an Aptos ETF Matters
The approval of an Aptos ETF is a major development in the institutionalization of altcoins beyond Ethereum. While Bitcoin and Ethereum ETFs have seen significant inflows, the launch of altcoin-based ETFs could validate a broader range of crypto assets and expand investment opportunities.
Additionally, Aptos’ blockchain is positioning itself as a competitor to Solana with its focus on scalability and transaction efficiency. The growing DeFi ecosystem on Aptos further boosts its case as a viable blockchain for institutional adoption.
