Bitwise Asset Management has submitted an amended S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for two spot cryptocurrency ETFs, including Dogecoin and Aptos. This amendment was made after the SEC delayed its decision on the Dogecoin ETF approval until June 12, 2025, citing market risk and investor protection concerns.
In the amended S-1 filing, Bitwise has added a mechanism for creation and redemption of the fund in an 'in-kind' manner, allowing participants to directly exchange fund shares for Dogecoin. The increased interaction between the SEC and fund managers has led analysts from Bloomberg, led by Eric Balchunas, to predict a 90% approval probability by the end of October 2025. The next step is for exchanges to submit a sample 19b-4 filing to the SEC for official approval.
Market Impact on Dogecoin and Aptos
The submission of the amended S-1 filing for Bitwise's spot Dogecoin and Aptos ETF is a clear signal that the SEC is preparing to approve more similar products in the near future. Previously, the SEC had also actively engaged with fund managers intending to launch a spot Solana ETF.
Before approving spot Bitcoin ETFs last year, the SEC also conducted similar consultations with recent altcoin ETF issuers.
The upcoming approval for the spot Dogecoin and Aptos ETFs could follow a pattern similar to Ethereum, as the cryptocurrency market has witnessed negative sentiment following approval. At the same time, spot altcoin ETFs are seen as an 'exit point' for institutional investors.
Meanwhile, both of these altcoins are experiencing a mid-term downtrend, especially as Bitcoin's price has consistently struggled to surpass $110,000 in recent weeks.
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Source: https://tintucbitcoin.com/bitwise-sua-s-1-aptos-etf-duyet/
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