Bitwise Asset Management is expanding its crypto portfolio beyond the usual giants.
The San Francisco-based investment firm has filed a Form S-1 registration with the U.S. Securities and Exchange Commission (SEC) seeking approval for what would be the world’s first exchange-traded fund tied to the Aptos (APT) blockchain ecosystem.
The proposed Bitwise Aptos ETF would track the performance of Aptos relative to the U.S. dollar, giving institutional and retail investors a regulated pathway to gain exposure to one of the market’s fastest-growing layer-1 networks. The filing describes a structure in which shares will be issued and redeemed in creation units of 10,000, with the fund’s net asset value (NAV) reflecting Aptos’s price after accounting for management and operational expenses.
CF Benchmarks Ltd., a leading crypto index provider, will supply the official reference rate through its CF Aptos-Dollar Settlement Price, ensuring that the ETF’s valuation remains transparent and consistent with market prices. Bitwise Investment Advisers, LLC will oversee fund management, while the exchange listing venue and ticker symbol are still pending regulatory confirmation.
Although CEO Hunter Horsley declined to elaborate on the filing, citing the SEC’s quiet-period restrictions, he hinted at growing institutional interest. “We’re excited about the momentum in the Aptos ecosystem,” Horsley posted on social media, noting that this marks Bitwise’s first step into the layer-1 category after years of developing Bitcoin and Ethereum investment products.
The move positions Bitwise as the first U.S. asset manager to bring an Aptos-linked product to market, potentially paving the way for other layer-1 ETFs should it gain regulatory approval. With Aptos’s ecosystem expanding rapidly through DeFi, gaming, and Web3 infrastructure, the proposed ETF could open the door for a new wave of traditional capital entering emerging blockchain networks.
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Source: https://coindoo.com/bitwise-files-for-first-ever-aptos-etf-with-the-sec/