Bitwise Asset Management has made headlines by filing an SEC S-1 registration for a proposed Aptos (APT) exchange-traded fund (ETF). This filing positions Bitwise as a key player in the race to bring altcoin-focused ETFs to the US market, and it comes on the back of increased investor interest in Aptos.
Bitwise registered in the state of Delaware and filed for an Aptos ETF. This was an attempt to launch a regulated investment product based on Aptos, a fast-growing blockchain gaining traction for its innovative nature. The filing mentions using CF Benchmarks for net asset value to comply with institutional standards.
Bitwise’s strategy extends its attempt to diversify crypto ETF options based on previous altcoin filings, such as Dogecoin (DOGE). This targeting of Aptos’s U.S.-based blockchain could improve approval chances.
Impact on Aptos (APT)
The filing spiked the price of Aptos, which rose 18% to $6.48 on March 5th, 2025. This price movement shows the growing interest in Aptos as a distinct Layer 1 blockchain. Aptos’s lack of EVM compatibility and its $996 million in DeFi liquidity make it an ideal environment for innovation to thrive.
The Aptos ecosystem continues to grow through stablecoin integrations like USDC and DeFi protocol investments that enhance liquidity. These developments, along with its expanding partnerships, are making it increasingly attractive to retail investors and institutions.
Bitwise’s filing for an Aptos ETF follows the trend of specialist altcoin ETFs gaining traction. Bloomberg’s Eric Balchunas predicts that more than 40 altcoin-related ETF listings will be added by early 2025.
These listings target Solana, XRP, Hedera, and Litecoin. As market analysts have predicted, the altcoin ETF boom has the capability to redefine the investment landscape for crypto, potentially leading to a wild market performance.
The rise of altcoin ETFs can stimulate mass market use and liquidity for tokens like APT. Certain crypto ETFs have been performing well lately, with some outperforming those that track Bitcoin. There is growing investor interest in exposure to a wide array of cryptocurrencies other than Ethereum and Bitcoin, paving the way for broader market participation and greater liquidity within various blockchains.
READ MORE: Tether’s $141B+ USDT Now Live Across 7 Chains via OpenUSDT
