US-based crypto asset management firm Bitwise Asset Management has officially filed Form S-1 with the US Securities and Exchange Commission (SEC) for the first exchange-traded fund (ETF) connected to the Aptos (APT) ecosystem. Bitwise CEO Hunter Horsley said on social media, “We have submitted our S-1 filing for the Aptos ETF. Due to the quiet period, I cannot share further details, but we are excited about the momentum in the Aptos ecosystem.” The Bitwise Aptos ETF aims to provide investors with direct exposure to Aptos's value against the dollar. The fund aims to generate returns on the value of Aptos's holdings and maintain its net asset value (NAV) after deducting operating expenses. Related News: Tether Moves to Purchase $200 Million Worth of Its Own Altcoin on the Market The ETF will reference the CF Aptos–Dollar Settlement Price index calculated by CF Benchmarks Ltd. The fund will be managed by Bitwise Investment Advisers, LLC. According to the application documents, the fund's shares will be created and redeemed in “basket” units of 10,000 units. While the shares are planned to be listed on an exchange, the exchange and ticker symbol have not yet been specified. Bitwise is known for its Bitcoin and Ethereum-based investment products. The Aptos ETF application marks the company's first foray into layer-1 blockchain projects. *This is not investment advice. Continue Reading: For The First Time, a Spot ETF Application Has Been Filed for This Altcoin
