Bitwise has just submitted an S-1 file to the SEC to lift an Crypto ETF based on Aptos (APT). This approach suggests a long -term strategy on this digital asset. More details in the following paragraphs!
An Crypto Etf without Stuking, but with Custody Coinbase
Unlike certain funds, Bitwise has chosen to exclude staking for its ETF Crypto Aptos. The asset manager already has an experience with this digital asset. The proof: he launched an ETP Aptos Staking on the Swiss Stock Exchange Six Swiss Exchange in November. However, the American edition of this Crypto ETF will not offer this option.
Regarding security, Bitwise has appointed CUSTODY Coinbase as the main custodian of the digital assets of the ETF. A decision that could reassure institutional investors! No registration exchange has yet been confirmed. Also, no fees or symbol of ETF Crypto has not been communicated for the moment.
A favorable context for crypto ETF based on altcoins
The recent approval of the Bitcoin and Ethereum ETF has created a precedent that could play in favor of New Altcoins ETF. Bitwise has recently made requests for ETF DOGECOIN, Solana and XRP. This shows his interest in cryptocurrencies of strong notoriety.
Although presented as “Solana Killer”, Aptos remains an atypical choice for an Crypto ETF. According to Coingecko, this crypto-active is currently classified 36th by market capitalization with $ 3.8 billion.
For this project to see the day, Bitwise must submit a 19B-4 form. This will start a period of 240 days before the dry makes its verdict. This step is crucial to allow the Cutting ETF Aptos on a regulated scholarship.
With this new Crypto ETF, Bitwise continues to explore opportunities on altcoins. The approval of the SEC would constitute a strong signal for the Crypto market. In the meantime, the announcement has boosted the APT price, which climbed 18 % in 24 hours.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
