Bitwise has filed for an Aptos APT ETF with the U.S. Securities and Exchange Commission (SEC) after previously filing multiple Solana funds in Europe and the USA.
The Aptos ETF has been recorded in an S-1 registration with the SEC by digital investment management firm Bitwise.
Cryptocurrency investors are surprised at the filing, with many seeing Aptos as an outlier network compared to competitors Sui Network and Solana.
What is Aptos and what does APT do?
Aptos was launched in November 2022 by Aptos Labs, formed of engineers from Facebook’s Meta. Like many blockchain networks, Aptos was designed with scalability in mind.
Meta’s Libra project was a precursor to Aptos after Facebook abandoned Libra during its development phase after regulators under Gensler’s SEC were opposed to its development.
Aptos, birthed from the ashes of Libra, says it can handle 10,000 transactions per second, making it a powerful layer 1 network for scalability.
In January 2025, digital asset investment firm VanEck published a detailed report comparing the decentralized health and prospects of Aptos and Sui Network.
According to VanEck’s research, Aptos’s native APT token has a strong chance to reach $22 in 2025 due to a wide range of fundamental and technical factors.
Like Sui, Aptos has built a growing decentralized ecosystem by offering strong incentives for web3 developers to come and build on APT.
Looking at Aptos on a technical level, the network blows top blockchains out of the water with its TPS capabilities, achieving a 13.3k TPS on October 18, 2024, beating Solana, Sui, Avalanche, and even Coinbase’s BASE network.
Why did Bitwise choose APT for their next ETF venture?
Bitwise chose Aptos for their latest ETF filing with the SEC after submitting multiple Solana exchange-traded fund registrations in late 2024 and early 2025 in Europe and the US.
Aptos came under scrutiny by DeFi participants when its co-founder, Mo Shaikh, left the project in December 2024 to “start a new chapter.”
Many investors believed Mo Shaikh had taken advantage of Aptos’s token launch and abandoned the project after making money, believing he did not care about the development of APT.
In recent months, Aptos has entered the crypto zeitgeist as an alternative blockchain with strong scalability prospects. Many believe the technology of Aptos is perfect, but more needs to be done to make it a network to be reckoned with.
Who knows, maybe Aptos might make an appearance in President Trump’s new US Crypto Strategic Reserve…
