Bitwise Files for First Aptos-Linked ETF, Simplifying Crypto Investment
Bitwise has taken a significant step towards offering investors a simpler way to invest in Aptos. The company has filed a Form S-1 with the SEC to launch the first Aptos-linked ETF, the Bitwise Aptos ETF. If approved, this would be a milestone in the crypto investment landscape.
Bitwise Investment Advisers, LLC will manage the proposed ETF, which aims to provide exposure to the value of Aptos (APT). The ETF's value will be tied to the CF Aptos-Dollar Settlement Price, calculated by CF Benchmarks Ltd. Investors will gain fractional ownership in Aptos holdings of the trust through the shares issued by the ETF.
Bitwise CEO Hunter Horsley expressed enthusiasm about the Aptos ecosystem's momentum. Aptos has seen a strong increase in developer activity, leading among major blockchain projects with an 897% increase. Bitwise is betting on the growth of the Aptos ecosystem in DeFi, gaming, and Layer-1 scalability solutions. This move aligns with Bitwise's ongoing efforts to expand regulated crypto investment options in the U.S.
The Bitwise Aptos ETF's debut comes amidst intensified regulatory discussions on crypto ETFs, with the SEC under pressure to clarify its stance. If approved, the Bitwise Aptos ETF would be the first of its kind, offering investors a more accessible way to invest in Aptos. This development reflects Bitwise's commitment to driving innovation in the crypto investment space.
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