Bitwise’s Aptos ETF Filing: Could This $3.8 Billion Crypto Be the Next Big ETF Winner?

Bitwise has moved closer to expanding its crypto ETF lineup by filing an S-1 for a spot in Aptos ETF. This filing follows the launch of an Aptos-linked trust, highlighting the company’s increasing interest in alternative cryptocurrencies. Bitwise has not yet revealed details about exchange listings, fees, or the ETF’s ticker. Unlike its previous filings, Aptos has a lower market cap, making this a strategic shift. With fast transactions and increasing total value locked, Aptos continues gaining traction in blockchain despite ongoing market challenges.

The Race for Altcoin ETFs: Where Aptos Stands

Based on the official Aptos X account‘s announcement, Bitwise has registered an S-1 statement to list a spot for Aptos ETF. This crypto asset manager had hinted at this development days ago when it established a trust linked to Aptos ETF filing. Coinbase Custody is listed as the spot Aptos ETF, as Bitwise did not register for stacking the proof-of-stake Aptos. Moreover, the filling does not specify what exchange the Aptos ETF will be listed on. Bitwise also did not suggest a fee or a ticker for this ETF.

1/ @BitwiseInvest has filed an S-1 with the U.S. Securities and Exchange Commission to register a potential Aptos ETF.

This filing is the initial step toward offering an ETF linked to Aptos in the U.S. market. pic.twitter.com/cYTViiIW5p

— Aptos (@Aptos) March 5, 2025

This Aptos ETF filing is the latest trend in altcoin ETF requests. As such, it is now in a long line to be accepted by the securities regulator. This ETF filing marks the latest in Bitwise’s attempts to add to its BTC and ETH ETF arsenal. Before this, Bitwise had also registered ETF requests for SOL, XRP, and DOGE. For the SEC to recognize this Aotos ETF request, Bitwise also needs to fill out a 19b-4 form. After doing so, a 240-day timeline starts for the SEC to consider approving this registration. 

Future of Crypto ETFs: What Investors Need to Know

As the latest ETF filling, APT presents a change in Bitwise crypto investment strategy. This is because Bitwise’s last ETF fillings were all high-market capitalization tokens, but Aptos ranks 36th in this list. As a relatively new coin, Aptos was founded in 2021, and its market capitalization is $3.8 billion. Developed by two former Facebook employees, Mo Shaikh and Avery Ching, it emerged as a Solana killer. This high-speed, low-cost layer-1 blockchain token is now trading around $6.14 right now, with one-nineteenth of Solana’s market cap.

Aptos: A Sleeping Giant in the Crypto Market?

There is $1.03B of total value locked on the Aptos blockchain, including more than $830M worth of stablecoins. With this, Aptos ranks as the 11th largest blockchain based on its total value locked. This blockchain hosts a variety of assets, as there have been real-world asset tokenizations on its network. For instance, there are Franklin OnChain US Government Money Fund (FOBXX) tokens. This is not the first time Bitwise has invested in Aptos, as it has already opened an Aptos Staking ETP. This ETP was opened on Switzerland’s SIX Swiss Exchange and offers a 4.7% staking yield. 

APT has also been considered for Grayscale, although it has not gotten a new fund for months now. As a non-EVM compatible chain, Aptos delivers DEX and DeFi lending protocols, and it can also retain ETH liquidity. Aptos is one of the most ambitious L1 chains, as it raised nearly $350 from Tier-1 funds. However, its growth coincided with the FTX disaster, leading to a consistent downtrend for this asset.

The Aptos ETF: A Bold Move or a Risky Bet?

If approved, the Aptos ETF could bring more institutional inventors and deliver on Bitwise crypto investment. Aptos’ strong technology and DeFi integrations make it a long-term competitor in blockchain. However, it must grow its ecosystem and address challenges to secure its position. Investors should track developments, as regulatory decisions and Aptos’ progress will influence its ETF and broader adoption.