Bitwise has submitted paperwork to launch an exchange-traded fund (ETF) monitoring the value of Aptos (APT), the native token of the Aptos community.
The asset supervisor hinted on the transfer final week when it filed to create a Delaware belief entity for a proposed Aptos ETF. APT is a scalable layer 1 blockchain token primarily based on the Transfer programming language.
On Wednesday, Bitwise filed an S-1 doc with the Securities and Trade Fee, making its plans official. The S-1 submitting is a requirement for corporations looking for to problem a brand new safety and be listed on a public inventory trade.
To launch such a fund, the asset supervisor may also need to file a 19b-4 submitting, which is required to sign a requisite rule change on the inventory trade looking for to record the funding and ties the SEC to a strict deadline.
APT was buying and selling 18% greater over the previous 24 hours, at a value of $6.48 at press time.
