Bitwise filed an S-1 document with the SEC for an Aptos (APT) ETF, signaling its intention to bring an Aptos-tracking ETF to the market.
Bitwise's ETF filing coincided with an 18% surge in APT token price in the past 24 hours, reaching $6.48 at the time of filing.
Bitwise's filing reflects the growing trend of institutional investment in digital assets beyond Bitcoin and Ethereum, with a focus on alternative Layer 1 networks.
The SEC's decision on the Aptos ETF could set a precedent for future ETF filings focused on emerging blockchain projects.