Crypto asset supervisor Bitwise has filed to checklist a spot Aptos exchange-traded fund within the US — a token created by a staff led by two former Fb (now Meta) staff in 2022.
Bitwise filed an S-1 registration assertion to checklist the Bitwise Aptos (APT) ETF on March 5, eight days after Bitwise indicated it might 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 checklist of altcoins at the moment within the line to win the securities regulator’s approval.
Bitwise opted to not embrace a staking characteristic for the proof-of-stake powered Aptos blockchain and listed Coinbase Custody because the proposed custodian of the spot Aptos ETF. It has but to specify which inventory alternate it might be listed on.
A proposed price or ticker wasn’t included both. Bitwise will even must 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 decide.
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 supply. It has additionally just lately filed to checklist a spot Solana (SOL), XRP (XRP) and Dogecoin (DOGE) ETFs in latest months.
Whereas Bitwise’s different US spot ETF filings have been aimed on the prime tokens by market capitalization, Aptos seems to be an outlier, rating thirty sixth by market capitalization of $3.8 billion, according to CoinGecko.
Aptos was developed by Aptos Labs, an organization based by two former Fb staff, Mo Shaikh and Avery Ching, in 2021.
It emerged as a possible “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 scale of Solana’s, CoinGecko information shows.
APT is up 14.4% during the last 24 hours to $6.25, CoinGecko information shows.
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Aptos boasts the eleventh largest whole worth locked amongst blockchains at $1.03 billion, according to DefiLlama information. Over $830 million of that consists of stablecoins.
Actual-world property akin 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 Change in November that provides a 4.7% return on staking yield.
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