APT Price Jumps 13% as Bitwise Files to List a Spot Aptos ETF

Highlights:

• Bitwise files for Aptos ETF, marking the first U.S. attempt for APT approval.
• APT price jumps 13% after ETF filing, and trading volume shows strong investor demand.
• Bitwise expands crypto ETFs, adding Aptos to its growing list of altcoin funds.

On March 5, crypto asset manager Bitwise officially filed an S-1 document with the United States Securities and Exchange Commission (SEC) to launch the Aptos (APT) exchange-traded fund (ETF). This move makes Bitwise the first firm to file for an Aptos-based ETF in the U.S. This came eight days after it registered a trust linked to the Aptos ETF in Delaware on Feb. 28.

The Aptos, a layer-1 blockchain token, filing joins the list of altcoins awaiting approval from the securities regulator. The firm has not revealed the ETF’s ticker symbol or listing exchange. The asset manager must also submit a 19b-4 document, which is essential for approval and initiating the SEC’s formal review process. If approved, the Bitwise Aptos ETF would let institutional and retail investors access APT without directly holding it.

The ETF will hold Aptos and use the CF Aptos–Dollar Settlement Price for pricing. Bitwise will manage the ETF and charge an annual fee, but the rate has not been disclosed. The ETF will issue and redeem 10,000-unit “Baskets” through authorized financial institutions. Investors can trade shares via brokers, changing prices based on supply and demand.

Bitwise Expands Crypto ETFs

The Aptos filing reflects Bitwise’s continued expansion beyond its existing spot Bitcoin and Ether ETFs. Recently, it also applied for spot Solana, XRP, and Dogecoin ETFs. It’s unclear if these products will reach Wall Street, but the new SEC leadership under Trump may approve them more easily.

Moreover, Bitwise is actively growing its ETF offerings to introduce more crypto investment products to traditional markets. The company previously launched Aptos staking ETFs in Europe. These ETFs provide investors access to APT through regulated exchanges in Switzerland.

APT Surges 13% as Aptos ETF Filing Sparks Investor Interest

After the filing became public, APT’s price experienced a sharp rise, increasing 13.12% in the past 24 hours to approximately $6.20. Trading volume also surged, reflecting heightened investor interest in the potential ETF. Aptos ranks as the 31st largest cryptocurrency by market capitalization, with a value exceeding $3.65 billion.

Aptos Labs was founded in 2021 by former Facebook employees Mo Shaikh and Avery Ching. They launched the Aptos blockchain in October of the following year as a fast, low-cost layer-1 network. It uses the Move programming language, created for Facebook’s Diem project, to improve scalability and efficiency.

Aptos ranks 11th among blockchains in total value locked, reaching $1.03 billion, according to DefiLlama. Over $830 million of this comes from stablecoins. It emerged as a potential “Solana killer.” However, its market capitalization is now just a fraction of Solana’s, about one-nineteenth in size. Moreover, real-world assets, including the Franklin OnChain US Government Money Fund (FOBXX), have been tokenized on the Aptos blockchain.