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Bitwise Asset Management filed amended S-1 registration statements to the U.S. Securities and Exchange Commission (SEC) for two proposed exchange-traded funds (ETFs), the Bitwise Dogecoin ETF and the Bitwise Aptos ETF. These registrations mark another stage on the path to providing U.S.-traded ETFs based on Dogecoin (DOGE) and Aptos (APT), but investors need not possess the token itself.
Bitwise Investment Advisers, LLC will manage the two ETFs, which will have the same structure as Delaware statutory trusts. The filings will seek to enable more investors to access digital assets by offering them as regulated investments. Although the ETFs would echo the performance of the corresponding cryptocurrencies on the market, they would work within the frameworks of accepted U.S. securities.
Bitwise Dogecoin ETF first submitted the filing to the SEC on March 3, 2025. After its submission, it went through a necessary period of public comment. The SEC postponed its previously announced review on June 12, 2025, to allow more time to analyse possible market risks and investor protective mechanisms.
The Dogecoin ETF would offer Coinbase Custody as its custodian. The design is a replica of other crypto ETFs that regulators are investigating. The SEC, in general, has been sceptical about offering crypto-related financial products, which has seen it postpone most of its decisions to make further evaluations of trading volumes, volatility, and market integrity. The extension does not connote approval or rejection, but it indicates that the SEC will be keen to review new products with a view to giving clearance. Bitwise is still perfecting its submissions as the regulators change their expectations.
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Bitwise Aptos might be the first fund focused in the United States providing exposure to Aptos (APT), a Layer 1 blockchain platform. On February 25, 2025, Bitwise affected the Delaware Trust of this fund, which laid the groundwork for the amended S-1 filing.
Although information about the Aptos ETF was scant until recently, the revised filing indicates that Bitwise is ready to address the regulatory framework. The company's growth into various digital asset ETFs suggests a growing institutional appetite to become more exposed to crypto investments. Assuming that they are approved, the DOGE and ETF on APT would provide a regulated way of investing in a particular cryptocurrency type, meaning that digital assets are gradually becoming part of the typical finance industry.
