Bitwise Seeks Approval for New Aptos-Based ETF

Bitwise Seeks SEC Approval for Aptos ETF

Bitwise has taken a major step toward launching an exchange-traded fund (ETF) tied to Aptos (APT), filing paperwork with the Securities and Exchange Commission (SEC) on Wednesday.

The asset manager had already hinted at this move last week by establishing a Delaware trust for the proposed ETF. Aptos, a next-generation Layer 1 blockchain leveraging the Move programming language, is designed for scalability and developer flexibility.

Bitwise’s official filing—an S-1 registration statement—marks the first step in gaining regulatory approval to list the ETF on a public exchange. To finalize the process, Bitwise will also need to submit a 19b-4 filing, which would prompt a rule change at the exchange seeking to list the fund, putting the SEC on a set review timeline.

The announcement sparked a rally in APT, with the token surging 18% in the past 24 hours to trade at $6.48 at the time of writing.