Bitwise Files to Launch Aptos ETF.
The asset manager submitted paperwork with the Securities and Exchange Commission (SEC) for the fund on Wednesday.
What to know:
Bitwise has filed an S-1 filing with the Securities and Exchange Commission to launch an exchange-traded fund tracking Aptos (APT).
APT is the native token of the Aptos network.
The asset manager hinted at the move last week when it filed to create a Delaware trust entity for a proposed Aptos ETF.
Bitwise has submitted paperwork to launch an exchange-traded fund (ETF) tracking the price of Aptos (APT), the native token of the Aptos network.
The asset manager hinted at the move last week when it filed to create a Delaware trust entity for a proposed Aptos ETF. APT is a scalable layer 1 blockchain token based on the Move programming language.
On Wednesday, Bitwise filed an S-1 document with the Securities and Exchange Commission, making its plans official. The S-1 filing is a requirement for companies seeking to issue a new security and be listed on a public stock exchange.
To launch such a fund, the asset manager will also have to file a 19b-4 filing, which is required to signal a requisite rule change at the stock exchange seeking to list the investment and ties the SEC to a strict deadline.
