Bitwise Files for Aptos ETF With SEC Amid Growing Altcoin Interest

Bitwise files for the first Aptos ETF as altcoins gain attention from major institutional investors.

Aptos token price jumps after ETF filing and sees record trading volume and rising developer activity.

SEC review may take time, but Aptos' growth and adoption strengthen its case for ETF approval.

Bitwise Asset Management has submitted an S-1 registration with the U.S. SEC for a new Aptos-based ETF. If approved, this would become the first ETF linked to the Move-based Aptos blockchain. The filing marks a new shift in institutional interest beyond Bitcoin and Ethereum. It also follows earlier administrative steps to register the trust entity in Delaware.

This development arrives as the crypto market sees renewed momentum. The digital asset market capitalization reached $4.21 trillion. Daily trading volume exceeded $180 billion. The move suggests that firms are now targeting altcoin-backed investment products as investor demand diversifies.

APT Price Reacts as Market Responds

Following the announcement, the Aptos (APT) token jumped by nearly 30%. The price crossed $5.3 after rising from $4.2 levels. Trading volume hit $614 million, the highest in two months. APT is now priced at $5.51. This surge helped the token recover from earlier losses.

Market analysts point to increasing ETF interest as a major catalyst. Aptos’ growing traction among developers also adds strength. According to Chain Broker, Aptos posted a 897% rise in development activity. This figure outpaces several other Layer-1 networks, including Celo and Skale.

Development Milestones and Institutional Support

Recent growth in the Aptos ecosystem appears strategic. The blockchain has made progress in DeFi, gaming, and tokenized assets. In May, Aptos reached a daily record of 115.4 million transactions. This figure exceeded Solana’s 31.7 million and set a new Layer-1 benchmark.

Aptos has also gained traction in stablecoins. Native USDT volume on Aptos surpassed $30 billion. Its net USDT circulation now totals around $830 million. This positions Aptos as the fourth-largest Layer-1 chain for native USDT use. Additional stablecoins like USDC and USDe also show rising activity on the network.

Institutional partnerships are growing as well. In 2024, BlackRock included Aptos in access to its tokenized USD fund. This selection was aimed at expanding digital liquidity options for institutions. Analysts suggest that such integrations reflect strong institutional confidence in Aptos' performance.

Outlook and Regulatory Road Ahead

The ETF approval process may take months or longer. The SEC will examine market risks and investor protections before making a decision. Bitwise’s move signals interest in expanding ETF coverage to newer blockchain ecosystems. In March, Bitwise filed for an Aptos ETF with the SEC, aiming to expand crypto investment options while awaiting regulatory approval.

Although U.S. approval is pending, a similar product is already traded by Bitwise in Switzerland. This creates the chances of a U.S. launch before the year ends. The filing may also benefit from Aptos Labs’ involvement in U.S. regulatory discussions.