Popular U.S. asset manager and ETF issuer, Bitwise, has amended its S-1 applications for spot Dogecoin (DOGE) and Aptos (APT) exchange-traded funds (ETFs), as revealed by Bloomberg ETF analyst Eric Balchunas. The firm submitted the updated version to the U.S. Securities and Exchange Commission (SEC) on Thursday, June 26, 2025.
Bitwise has filed amended S-1s for their spot Dogecoin ETF and their spot Aptos ETFs. Good signs as it indicates SEC engagement and tracks with other spot approvals. pic.twitter.com/vWpkMwyhyT
— Eric Balchunas (@EricBalchunas) June 26, 2025
DOGE, APT ETF Filing Updated
Notably, the asset manager’s initial filing has been on the SEC’s desk for over five months. However, its recent amendment indicates that the SEC has reviewed the application, citing corrections that Bitwise has included in its latest filing.
The update enables “in-kind” creations and redemptions in spot ETFs, representing a significant shift from the initial filing. Thus, instead of cash transactions, ETFs can now exchange underlying assets directly. If adopted across the board, this development will foster flexibility and potentially reduce costs for investors and asset managers.
APT and DOGE Set for Approval
Notably, Dogecoin and Aptos have market capitalizations of $24 billion and $3 billion, respectively, at the time of writing, and have experienced substantial price movements following their initial ETF filings earlier this year.
Dogecoin is the world’s first memecoin and has caught the attention of influential U.S. entrepreneurs, including Elon Musk. The newly established American Department of Government Efficiency, with the acronym DOGE, has attracted more investors to the memecoin. Meanwhile, BitMEX co-founder Arthur Hayes noted that Dogecoin’s long-term presence and survival in the cryptocurrency market, along with its high market capitalization, would boost the chances of its ETF approval in the current market cycle.
Launched in 2022, APT is the native cryptocurrency of the Aptos Layer-1 blockchain, serving as an essential utility within the system by facilitating transaction fees, staking, and governance engagement. It has surged by over 350% within the past two years.
Bitwise ETF Success
Remarkably, Bitwise has been in the crypto ETF market since January 2024 with its Bitwise Bitcoin ETF, BITB, which has recorded exceptional success over time. It has had an all-time inflow of $2.2 billion, ranking it as America’s fourth-largest bitcoin ETF.
Driven by the success of its BTC and Ether ETFs, Bitwise has taken steps to launch a few other crypto ETFs. Meanwhile, the new SEC administration has shown enthusiasm for crypto, boosting confidence in the forthcoming approval of many altcoin ETFs.
