Crypto asset manager Bitwise is moving forward with plans to launch the first Aptos exchange-traded fund.
The company registered a Delaware trust entity in February 2025 and filed an S-1 with the SEC in March 2025, marking another step in expanding cryptocurrency investment options beyond Bitcoin and Ethereum.
The filing sent the APT token soaring. In March, when the S-1 was filed, APT surged 18%, climbing to $6.48. More recently in October 2025, as Bitwise confirmed progress on the filing, APT jumped nearly 30%, reaching a local high of $5.37. Trading volume hit $3.98 billion, the highest level in three months.
Bitwise CEO Hunter Horsley confirmed the ongoing filing process on social media in October 2025, but remained tight-lipped about details due to regulatory quiet period rules. “Can’t say more during quiet period,” Horsley wrote. “But fired up about the momentum in the Aptos ecosystem.”
Developer Activity Leads All New Blockchains
The momentum Horsley referenced is backed by hard numbers. Data from Chain Broker shows Aptos leading development growth among major blockchain projects with an 897% increase in developer activity. This growth rate outpaces competing networks like Celo, Nym, and Skale.
Source: @HHorsley
The blockchain’s technical design attracts developers. Aptos finalizes transactions in under a second with fees typically below $0.001. These performance metrics make it appealing for applications that need speed and low costs, particularly in decentralized finance and payments.
Major Financial Institutions Choose Aptos
Several Wall Street giants have integrated Aptos into their blockchain strategies over the past year. BlackRock, the world’s largest asset manager, expanded its BUIDL fund to Aptos in November 2024. Notably, Aptos is the only non-Ethereum-compatible blockchain BlackRock chose for this tokenized money market fund.
Franklin Templeton followed suit in October 2024, bringing its OnChain U.S. Government Money Fund to the network. The fund holds over $400 million in managed assets. According to Franklin Templeton’s Head of Digital Assets Roger Bayston, Aptos met the company’s high standards for blockchain integration.
In September 2024, Libre deployed multiple tokenized investment funds on Aptos, including products from Brevan Howard and Hamilton Lane. These moves show traditional finance firms see Aptos as a viable platform for bringing real-world assets onto the blockchain.
Stablecoins and DeFi Drive Growth
The Aptos ecosystem experienced explosive growth in 2024. Total Value Locked, a key metric measuring assets deposited in decentralized finance protocols, surpassed $1 billion in November 2024. This represented 700% growth from the start of the year.
Stablecoin adoption played a major role. Tether launched USDT natively on Aptos in October 2024. The supply grew eightfold to $680 million, making up nearly 75% of all stablecoins on the network. Circle’s USDC also saw significant growth, with combined stablecoin market caps increasing over 1,000% year-over-year.
The network now supports nearly $1 billion in DeFi liquidity across various applications. Leading protocols include Thala, Echelon, and Amnis Finance, which together process billions in trading volume.
Regulatory Connections Strengthen Position
Aptos gained an advantage on the regulatory front in June 2025. Avery Ching, the co-founder and CEO of Aptos Labs, joined the Commodity Futures Trading Commission’s Digital Asset Markets Subcommittee. He now works alongside executives from major firms like BlackRock, Goldman Sachs, and JPMorgan to shape digital asset regulations.
This appointment came just months before Bitwise’s ETF filing. Many observers believe Ching’s position could help smooth conversations between regulators and the Aptos ecosystem regarding ETF approval.
Aptos also secured a partnership with World Liberty Financial, the Trump family’s cryptocurrency venture, to launch the USD1 stablecoin on its network in early October 2025.
European Product Already Trading
Bitwise isn’t starting from scratch with Aptos investment products. The company launched an Aptos Staking ETP on Switzerland’s SIX Swiss Exchange in November 2024. The product trades under ticker APTB and offers approximately 4.7% annual staking rewards after fees.
The European product’s existence demonstrates institutional demand for Aptos exposure. Bitwise plans to list the ETP on additional European exchanges in the future.
The Swiss launch also provides a template for the U.S. product. However, American regulatory approval typically takes longer and faces stricter scrutiny, especially for cryptocurrencies beyond Bitcoin and Ethereum.
Approval Timeline Remains Uncertain
The SEC will review Bitwise’s application over the coming months. The agency examines market risk, investor protection, and regulatory compliance before approving any cryptocurrency ETF. Historically, the SEC has moved cautiously on altcoin ETFs, which could mean a lengthy review process for Aptos.
If approved, the Bitwise Aptos ETF would allow investors to gain exposure to APT through traditional brokerage accounts without directly holding cryptocurrency. The fund will use Coinbase Custody as its custodian, storing assets in cold storage wallets for security.
The filing comes during strong momentum for cryptocurrency ETFs overall. Bitcoin spot ETFs attracted $3.24 billion in the week following the Aptos announcement, with BlackRock’s IBIT leading inflows at $1.8 billion.
The Bottom Line
Bitwise’s first-ever Aptos ETF filing reflects genuine ecosystem growth rather than speculative hype. The 897% jump in developer activity, billion-dollar DeFi milestone, and institutional partnerships from BlackRock and Franklin Templeton provide substance behind the application. While SEC approval remains uncertain and could take months, the 30% APT price surge shows market enthusiasm for bringing this Layer-1 blockchain to traditional investors.