APT Price Surges 10% As Bitwise Registers Delaware Entity For Potential Aptos ETF

Bitwise Asset Management has registered an Aptos ETF entity in Delaware, a move that could open future spot exchange-traded funds centered on the layer-1 crypto.

The filing comes as Donald Trump-era regulators warm to crypto.

Bitwise Prepares For SEC Application For Spot Aptos ETF

The asset management firm registered “BITWISE APTOS ETF” as a statutory trust through CSC Delaware Trust Company in Wilmington, according to a filing on Feb. 25.

As has been the case with other filings in the past, the Delaware registration only represents an initial administrative step toward what could be an ETF launch. Bitwise is likely preparing to file an S-1 registration with the SEC.

The filing could make Bitwise the first asset manager in the US directly holding APT tokens. Aptos currently ranks as the 36th biggest crypto asset by market value, according to markets data provider CoinGecko. If greenlighted by the SEC, the Aptos-based fund would give institutional investors exposure to the APT token without having to buy and store the cryptocurrency themselves, potentially boosting its liquidity and mainstream adoption.

Bitwise, which is one of the several asset managers that debuted spot Bitcoin and Ethereum ETFs in the U.S., rolled out its Aptos Staking exchange-traded product on six Switzerland-based exchanges last November.

Meanwhile, the latest filing in Delaware triggered a double-digit jump in APT. The asset is up 10% in the past 24 hours to trade hands at $6.32 as of publication time.

Altcoin ETF Filings Pile Up

Last month, Bitwise submitted documents to launch an exchange-traded fund tied to the price of Dogecoin (DOGE). While memecoin ETFs were a nearly unthinkable investment vehicle under Gary Gensler’s SEC, which gave issuers a hard time introducing a spot Bitcoin ETF, the possibility of such funds now seems more likely than ever after the return of pro-crypto President Donald Trump to the White House.

Bitwise’s APT ETF filing comes as a handful of ETF managers rush to secure approval for new crypto-based ETFs beyond BTC and ETH.

Asset managers such as Rex Shares, Canary Capital, and 21Shares have applied to list XRP exchange-traded funds in recent months. Issuers have also filed paperwork to launch funds tracking the prices of Solana, Cardano, Litecoin, and Polkadot, as well as newer meme coins such as Official Trump (TRUMP) and BONK.