Bitwise Files Application to Launch an Aptos ETF

Reading Time: < 1 minute

Bitwise yesterday submitted an S-1 application to the US Securities and Exchange Commission (SEC) to introduce an Aptos (APT) exchange-traded fund.

Following the announcement, APT experienced a 7% surge within one hour, rising from $6.06 to $6.50, according to CryptoSlate data.

Per the filing, the ETF’s net asset value will utilize the CF Aptos-Dollar Settlement Price, which serves as a pricing benchmark by aggregating trading data from leading Aptos platforms. Coinbase is designated as the ETF’s custodian.

The fund will be cash-settled, with shares created and redeemed in blocks of 10,000 shares each. This formal S-1 filing comes a week after Bitwise registered the fund with Delaware’s Department of State, prompting an 8% rise in APT’s value.