Unlock Aptos ETF Potential: Bitwise’s Bold SEC Move Revealed!

Bitwise Seeks U.S. Approval for Aptos ETF

Wealth manager Bitwise has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to list a spot Aptos (APT) exchange-traded fund (ETF). This move aims to bring Aptos exposure to U.S. investors,similar to its European counterparts. The filing comes after Bitwise registered an entity called the “Bitwise Aptos ETF” in delaware last week.

Aptos, the 36th largest crypto token by market cap, is valued at over $3.8 billion. It offers layer-1 blockchain technology to numerous users and developers. Bitwise previously launched Aptos staking ETFs on six Swiss exchanges, enabling European investors to earn crypto yields through a regulated vehicle.

Bitwise has already tapped Aptos’ proof-of-stake model to launch staking ETFs on six Swiss exchanges, allowing European investors to earn crypto yields. Now,they’re hoping to replicate this success in the U.S. market. The SEC has seen a surge in crypto ETF applications beyond Bitcoin and Ethereum, indicating a potential shift towards friendlier crypto regulations.

Other firms are also exploring ETFs for assets like Dogecoin, XRP, Litecoin, and Solana. While the fate of these products remains uncertain, the new Republican SEC leadership under President Donald Trump may lead to more flexible approval processes.The SEC has recently ended cases against major industry players like Coinbase and formed a new Crypto task Force to improve relations with the blockchain industry.

Key points include:

• Bitwise’s move to list an Aptos ETF in the U.S.
• increased interest in non-Bitcoin and Ethereum ETFs.
• SEC’s efforts to repair relations with the blockchain industry.

With the SEC’s new Crypto Task Force and a more flexible approach, the future looks promising for crypto ETFs. Stay tuned for updates on whether these products will reach Wall Street.