Bitwise Files to Launch Aptos ETF
The asset manager submitted paperwork with the Securities and Exchange Commission (SEC) for the fund on Wednesday.
Bitwise has submitted paperwork to launch an exchange-traded fund (ETF) tracking the price of Aptos (APT), the native token of the Aptos network.
The asset manager hinted at the move last week when it filed to create a Delaware trust entity for a proposed Aptos ETF. APT is a scalable layer 1 blockchain token based on the Move programming language.
On Wednesday, Bitwise filed an S-1 document with the Securities and Exchange Commission, making its plans official. The S-1 filing is a requirement for companies seeking to issue a new security and be listed on a public stock exchange.
To launch such a fund, the asset manager will also have to file a 19b-4 filing, which is required to signal a requisite rule change at the stock exchange seeking to list the investment and ties the SEC to a strict deadline.
APT was trading 18% higher over the past 24 hours, at a price of $6.48 at press time.
