Bitwise Files for First Aptos ETF as Institutional Demand Expands
Bitwise Asset Management has officially filed a registration statement with the U.S. Securities and platform Commission (SEC) for a spot Aptos platform-traded fund (ETF). The filing, submitted in late June 2025, could make Bitwise the first firm to bring a regulated investment product based on the Aptos (APT) token to U.S. markets. The ETF aims to track the real-time market value of Aptos, a Layer 1 blockchain designed for scalable and secure decentralized applications using the Move programming language.
According to the SEC S-1 submission and its June amendment, the proposed Bitwise Aptos ETF would operate as a grantor trust, holding Aptos tokens directly and valuing its net asset value (NAV) through the CF Benchmarks Aptos–USD index. Coinbase Custody Trust Company is listed as the fund’s custodian, responsible for securely storing the underlying APT tokens. While the filing does not yet reveal details such as the fund’s ticker, management fees, or listing platform, it represents a significant milestone for institutional access to emerging blockchain ecosystems.
Growing interest in Aptos and alternative Layer 1s
The announcement immediately drew attention across the crypto industry, with Aptos (APT) experiencing a surge in trading volume and price following the news. Bitwise CEO Hunter Horsley described the decision as a reflection of the “momentum and developer energy building in the Aptos ecosystem.” Analysts point to Aptos’s increasing traction in decentralized finance (DeFi), gaming, and real-world asset (RWA) tokenization as key drivers behind its recent rise in prominence.
Since launching its mainnet in 2022, Aptos has steadily positioned itself as a next-generation blockchain emphasizing performance, parallel transaction execution, and Move-based smart contract securety. The network has recently attracted major partnerships and developer activity, strengthening its case for broader institutional investment. If approved, Bitwise’s Aptos ETF would mark a new chapter in diversification for crypto asset managers viewking alternatives to ETH- and Solana-based exposure.
Regulatory process and implications for the market
Despite the excitement surrounding the filing, regulatory approval remains uncertain. Bitwise has not yet filed a Form 19b-4 — the rule change proposal required for an platform to list the ETF. The SEC typically reviews such applications over a period of up to 240 days. Until then, the Aptos ETF remains pending and cannot trade on public markets.
If approved, the Bitwise Aptos ETF would be the first U.S.-listed fund providing direct spot exposure to a Move-based blockchain asset. Market strategists suggest the move could open the door for additional ETFs tied to next-generation Layer 1 networks, increasing accessibility for traditional investors viewking diversified crypto portfolios. The development may also accelerate mainstream recognition of the Aptos ecosystem as a legitimate institutional asset.
Bitwise has built a reputation as one of the leading issuers of regulated digital asset products, previously filing for spot BTC, ETH, and Solana ETFs. The Aptos filing highlights the firm’s continued effort to expand investor access across the evolving blockchain landscape. With institutional capital steadily flowing into alternative ecosystems, Bitwise’s move signals confidence that the next phase of crypto market maturity will extend beyond legacy assets like BTC and ETH — and into high-performance networks like Aptos.
