Aptos rallies 13% as Bitwise files for Aptos ETF

• Asset Manager Bitwise filed an S-1 with the SEC to launch an Aptos ETF. 
• Bitwise previously filed for an Aptos trust in Delaware last week.
• APT is up 12% following the announcement.

Aptos (APT) surged over 12% on Wednesday following asset manager Bitwise's filing for an Aptos exchange-traded fund (ETF) with the Securities & Exchange Commission (SEC).

Aptos leads crypto gains as Bitwise reveals ETF filing

Aptos (APT) rallied over 12% in the past 24 hours, leading the crypto market recovery after Bitwise filed for an Aptos ETF with the SEC.

Bitwise S-1 filing with the SEC shows that the asset manager seeks to list and trade Aptos on a public stock exchange. This marks the first attempt to launch an APT ETF in the US.

According to the filing, Bitwise hopes to allow investors to gain exposure to APT's price through the fund.

Bitwise first hinted at the move last week when it filed for an Aptos trust in Delaware — a common preparatory step among crypto ETF issuers before officially filing with the SEC.

Bitwise filing will now be subject to review by the regulator.

Meanwhile, Canary Capital filed an S-1 registration with the SEC to launch the first-ever AXL ETF. AXL is the native currency of the Axelar interoperability protocol.

The latest filings add to a growing list of crypto ETF applications since President Donald Trump's inauguration. The increased ETF applications stem from the new presidential administration's pro-crypto decisions in the past weeks. However, it's unclear whether the SEC will greenlight everyone of these filings.

APT is up 12% on the day, recovering losses experienced earlier in the week.