Bitwise Seeks to Register Aptos ETF with Delaware Authorities

Bitwise, a provider of exchange-traded funds, has submitted a registration for an Aptos ETF to the Delaware Department of State, potentially paving the way for an ETF launch.

According to the state's official registration portal, Bitwise has filed for an exchange-traded fund based on Aptos (APT) in Delaware, indicating the company's intention to broaden its crypto offerings. This move could signal that the firm is preparing to submit an official S-1 application with the U.S. Securities and Exchange Commission.

If approved, Bitwise could become the first company in the United States to introduce an exchange-traded fund that directly holds APT tokens. APT is the native token of the Aptos blockchain, a Proof-of-Stake Layer 1 network created by Aptos Labs.

The submission of the Aptos ETP registration comes after the launch of several Aptos ETPs in Europe, such as the Bitwise Aptos Staking ETP and the 21Shares Aptos Staking ETP.

Upon the news of the filing, APT saw a 10% increase in value. Currently, the token is trading at $6.18, according to data from crypto.news.

This indicates that APT has managed to break free from the slump it was previously experiencing. Over the past week, the token has dropped by 6.5%. In the past month, APT has decreased by nearly 20%, and in the past year, it has fallen by nearly 40%.

Read More: "Highest Daily Net Redemption for Bitcoin ETFs at $937.78m, as BTC Dips Under $90,000"

Aptos has amassed a market capitalization of $3.6 billion and a fully diluted valuation of $7 billion. In the past 24 hours, the daily trading volume for APT has reached $371 million, an increase of nearly 44% compared to the previous day.

In November 2024, Bitwise launched its Aptos Staking ETP on six Swiss exchanges. That same month, 21Shares also introduced its Aptos Staking ETP on Euronext Amsterdam and Paris.

Last month, Bitwise submitted an official S-1 filing for a Dogecoin ETF that had previously been registered in the state of Delaware. The company also received approval from the U.S. SEC for their Bitcoin and Ethereum ETF 19b-4 filing. The Bitwise Bitcoin and Ethereum ETF is now awaiting the regulator's decision on its S-1 registration before it can begin trading on the markets.

Read More: "Allaire of Circle Advocates for Regulatory Scrutiny of Dollar-Linked Stablecoins in U.S."