In a move that can only be described as a veritable tour de force of financial wizardry, Bitwise Asset Management has decided to dip its toes into the murky waters of exchange-traded funds (ETFs) with the audacious ambition of launching an Aptos ETF in the good ol’ U.S. of A. This grand endeavor commenced on February 25, when they registered a Delaware trust entity, presumably while sipping tea and wearing monocles.
Now, dear reader, this is not just any ETF; oh no! This is the first of its kind that aims to directly hold Aptos (APT) tokens in the land of the free and the home of the brave. As if that weren’t enough, a veritable stampede of firms is now galloping into the altcoin ETF arena, with plans for investment products featuring the likes of Solana (SOL), XRP, Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), and Hedera (HBAR). One can only imagine the boardroom discussions—”What shall we throw into the ETF stew today?”
JUST IN: 🇺🇸 Bitwise registers Aptos ETF in Delaware, signalling it may soon file for a $APT spot ETF.
— Crypto India (@CryptooIndia) February 27, 2025
By registering in Delaware, Bitwise is laying the groundwork for the all-important S-1 form with the SEC, a step that is as essential as a good cup of Earl Grey before a morning meeting. Having already launched spot ETFs in the U.S. and introduced an Aptos Staking ETP on six Swiss exchanges last November, they are clearly not just dabbling in the crypto waters; they are doing the backstroke.
Following the announcement of the Aptos ETF filing, APT experienced a delightful 13% surge, as investors responded with the enthusiasm of a child on Christmas morning. CoinMarketCap, that ever-watchful guardian of cryptocurrency rankings, placed Aptos as the 30th largest cryptocurrency, with APT trading at a sprightly $6.12, reflecting an 8.28% jump in just 24 hours. One can only hope that the investors are not too busy patting themselves on the back to notice the market’s whimsical nature.
Mo Shaikh, the esteemed CEO of Aptos Labs, has declared this ETP a monumental leap toward enticing more institutions into the crypto fold, claiming it showcases the speed and reliability of the Aptos blockchain. Meanwhile, Bradley Duke, the head honcho of Bitwise’s European operations, assures us that this product is tailored for serious investors who prefer their investments as safe and regulated as a well-ordered tea party.
In a delightful twist of fate, Bitwise has also secured a whopping $70 million in funding from illustrious financial players such as Electric Capital, MassMutual, Highland Capital, ParaFi Capital, and Khosla Ventures. Clearly, the big guns are backing regulated crypto products, and one can only imagine the celebratory toasts being made in the boardrooms.
Not to be outdone, 21Shares has launched its own Aptos Staking ETP on Euronext Amsterdam and Paris, making it the first of its kind in Europe. It seems the race is on, and the stakes have never been higher—much like a game of poker where everyone is bluffing, and the chips are made of gold!
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2025-02-27 14:45