PANews reported on March 6 that Bitwise has filed documents to launch an ETF that tracks the price of Aptos (APT), the native token of the Aptos network. The asset management company revealed the relevant developments last week when it filed an application to create a Delaware trust entity for the proposed Aptos ETF. On Wednesday, Bitwise filed an S-1 filing with the U.S. Securities and Exchange Commission (SEC), officially launching the plan. The S-1 filing is a necessary step for a company to issue new securities and list them on a public stock exchange.

To launch such a fund, the asset management company will also need to file a 19b-4 document to indicate that the relevant stock exchanges need to make necessary rule changes, which also means that the SEC will face a strict approval deadline.