Crypto asset supervisor Bitwise has filed to list a spot Aptos exchange-traded fund in the US — a token created by a crew led by two former Fb (now Meta) staff in 2022.
Bitwise filed an S-1 registration assertion to list the Bitwise Aptos (APT) ETF on March 5, eight days after Bitwise indicated it will make such a submitting when it registered a belief linked to the Aptos ETF in Delaware on Feb. 28.
The Aptos submitting provides to the list of altcoins at the moment in the line to win the securities regulator’s approval.
Bitwise opted not to embody a staking function for the proof-of-stake powered Aptos blockchain and listed Coinbase Custody as the proposed custodian of the spot Aptos ETF. It has but to specify which inventory change it will be listed on.
A proposed price or ticker wasn’t included both. Bitwise will even want to file a 19b-4 type for its Aptos ETF software and for the SEC to acknowledge it earlier than the 240-day clock begins for the SEC to make a resolution.
Supply: Aptos
The Aptos submitting marks Bitwise’s latest effort to expand from the spot Bitcoin (BTC) and Ether (ETH) ETFs it at the moment has on provide. It has additionally lately filed to list a spot Solana (SOL), XRP (XRP) and Dogecoin (DOGE) ETFs in latest months.
Whereas Bitwise’s different US spot ETF filings have been aimed toward the prime tokens by market capitalization, Aptos seems to be an outlier, rating 36th by market capitalization of $3.8 billion, according to CoinGecko.
Aptos was developed by Aptos Labs, a firm based by two former Fb staff, Mo Shaikh and Avery Ching, in 2021.
It emerged as a potential “Solana killer” when it launched in October 2022 as a high-speed, low-cost layer-1 blockchain. Nevertheless, its market cap is at the moment solely one-nineteenth the dimension of Solana’s, CoinGecko information shows.
APT is up 14.4% over the final 24 hours to $6.25, CoinGecko information shows.
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Aptos boasts the eleventh largest complete worth locked amongst blockchains at $1.03 billion, according to DefiLlama information. Over $830 million of that consists of stablecoins.
Actual-world property similar to Franklin OnChain US Authorities Cash Fund (FOBXX) have additionally been tokenized on the Aptos blockchain.
Bitwise isn’t a stranger to Aptos, having launched an Aptos Staking ETP on Switzerland’s SIX Swiss Alternate in November that gives a 4.7% return on staking yield.
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