Bitwise registers a Delaware trust for an Aptos (APT) ETF, marking a significant step in the ETF’s launch process.
Aptos (APT) price surges 10.05% following the ETF news, trading at $6.18 with a market cap of $3.64 billion.
Bitwise Asset Management has taken a notable step towards launching an exchange-traded fund (ETF) dedicated to Aptos (APT) by filing for a Delaware trust. This makes Bitwise the first asset manager to pursue an Aptos ETF. The filing with Delaware’s Division of Corporations on February 25 is a preliminary step and does not guarantee immediate approval.
Moreover, the next step will be for Bitwise to submit a formal application to the SEC, which contains outlines of ETF’s structure, strategies, and plan about how it will track the asset. By reviewing the application, the SEC will decide whether they have to approve, reject, or request modifications in the application.
If the Aptos ETF is approved, it will permit institutional and retail investors
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