Bitwise, a crypto asset management firm, has filed to launch a spot Aptos exchange-traded fund (ETF) in the US. Aptos, a blockchain project created by former Facebook employees, aims to provide high-speed, low-cost transactions. The filing, made on March 5, includes a registration statement but lacks details on fees and the stock exchange for listing. This initiative adds to Bitwise’s efforts to broaden its offerings beyond Bitcoin and Ether ETFs. Although Aptos is ranked 36th in Market cap at $3.8 billion, its potential as an up-and-coming player in the cryptocurrency space could attract investor interest, especially given its growing total value locked in decentralized finance.
Crypto asset management company Bitwise has recently filed to list a spot Aptos exchange-traded fund (ETF) in the United States. This innovative token was developed by a team led by former Facebook employees in 2022. The filing took place on March 5, just days after Bitwise registered a trust related to the Aptos ETF in Delaware.
Aptos is gaining attention in the crypto landscape, and this ETF application adds to the list of altcoins seeking approval from the U.S. Securities and Exchange Commission (SEC). Bitwise has chosen not to include a staking feature in this ETF and has proposed Coinbase Custody as the custodian. Though details on the stock exchange for listing and the fee structure are yet to be disclosed, Bitwise aims to proceed with further filings to move the process forward.
The Aptos token is currently ranked 36th by Market capitalization, valued at approximately $3.8 billion. Surprisingly, this filing extends Bitwise’s strategy beyond their existing Bitcoin and Ethereum ETFs to include a unique altcoin. Aptos was launched as a high-speed, low-cost blockchain and shows promise, despite its smaller Market cap relative to competitors like Solana.
Aptos has seen a notable increase, jumping 14.4% in the last 24 hours to reach $6.25. It also boasts an impressive total value locked of $1.03 billion, with over $830 million in stablecoins. Moreover, real-world assets, such as the Franklin OnChain US Government Money Fund, have started to be tokenized on the Aptos blockchain.
With this filing, Bitwise highlights its commitment to diversifying its offerings and tapping into emerging blockchain technologies.
Tags: Bitwise, Aptos ETF, cryptocurrency, exchange-traded fund, blockchain technology.
What is Bitwise planning for Aptos?
Bitwise is looking to launch a new exchange-traded fund (ETF) focused on Aptos, which is currently the 36th largest cryptocurrency. This fund aims to make it easier for investors to gain exposure to Aptos through a more traditional investment format.
Why is Aptos important?
Aptos is a growing cryptocurrency known for its technology and potential in the blockchain space. By creating an ETF dedicated to Aptos, Bitwise hopes to attract more investors who want to explore this digital asset in a simple and regulated way.
How does an Aptos ETF work?
An Aptos ETF allows investors to buy shares that represent a portion of the Aptos investments held by the fund. This means you can invest in Aptos without needing to buy or manage the actual coins yourself.
What are the benefits of investing in an Aptos ETF?
Investing in an Aptos ETF can offer several benefits, including
– Simplified investment process
– Diversification of your portfolio
– Access to management by professionals who understand the Market
When will the Aptos ETF be available?
The exact launch date of the Bitwise Aptos ETF hasn’t been announced yet. Investors should keep an eye on Bitwise’s updates for more information regarding the availability and details of the fund.
