Bitwise lays the groundwork for an Aptos ETF Application filed with the Delaware Department of Corporations on February 25 %
The price of
#APT jumped after Bitwise applied for the Delaware
#Aptos #ETF . for the Delaware Aptos ETF Trust, marking the first step toward creating a U. S. exchange-traded fund for APT.
SEC approval process, formal application, review and pre-launch is pending. APT is up 12.4% on the news, indicating strong market interest as institutional investors consider altcoin ETFs other than
#bitcoin and Ethereum.
Bitwise Asset Management has taken the first step toward launching an Aptos exchange-traded fund (ETF) (APT) by filing an application with a Delaware trust related to the proposed product.
With this move, Bitwise will become the first Aptos-focused ETF.
The filing with the Delaware Department of Corporations, dated Feb. 25, is a preliminary step toward registering a trust for the proposed Aptos ETF. This step does not guarantee immediate approval or launch of the fund.
Next, Bitwise needs to file a formal application with the U. S. Securities and Exchange Commission (SEC). It includes a detailed prospectus describing the ETF's structure, investment strategy and how the fund plans to track aptos.
The SEC will then review the application, which can take several months. The SEC will either approve the application, reject it or ask for changes.
If approved, the Aptos ETF will allow institutional and retail investors to access APT tokens without having to directly purchase and manage cryptocurrencies, potentially increasing liquidity and mass adoption of cryptocurrencies
By Bitwise It is worth noting that the registration of the Aptos ETF in Delaware follows the launch of several Aptos-listed products (ETPs) in Europe, including the Bitwise Aptos Staking ETP and 21Shares Aptos Staking ETP.
Aptos is a Tier 1 blockchain designed for scalability, security and reliability.
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