Bitwise Amends S-1 Filings for Spot Dogecoin ETF and Aptos ETFs: Approvals on Track?

Bitwise Asset Management recently made headlines by filing amended S-1 registration statements with the United States Securities and Exchange Commission (SEC) for its proposed spot Dogecoin ETF and Spot Aptos ETF. This move comes after the SEC’s decision to delay the spot Dogecoin ETF on June 12, 2025, citing market risks and investor protection concerns.

In the amended S-1 filing, Bitwise introduced in-kind creations and redemptions to allow authorized participants to exchange shares directly for Dogecoin. With the ongoing discussions between the U.S. SEC and fund managers, Bloomberg analysts, led by Eric Balchunas, estimate a 90 percent probability of approval by the end of October 2025. The next step in this process would involve the intended exchanges filing for Form 19b-4 with the U.S. SEC.

The market impact of the potential approval of Dogecoin and Aptos ETFs is expected to be significant. The filing of amended form S-1 filings for Bitwise spot Dogecoin and Aptos ETF indicates a willingness on the part of the agency to approve similar products in the near future. The U.S. SEC has also been engaging with fund managers looking to offer spot Solana ETFs, further emphasizing their interest in altcoin ETFs.

Before the approval of spot Bitcoin ETFs last year, the U.S. SEC engaged with fund managers in a similar manner as it has with altcoin ETF issuers recently. The approval of spot Dogecoin and Aptos ETFs could follow a similar pattern to Ethereum’s approval, which saw a bearish sentiment in the market. Additionally, these altcoin ETFs are seen as an exit market for institutional investors.

Despite the potential approval of these ETFs, both Dogecoin and Aptos continue to have a bearish outlook in the midterm, especially as Bitcoin’s price struggles to rally consistently above $110k in recent weeks. The market dynamics are constantly evolving, and the approval of these ETFs could have a significant impact on the overall cryptocurrency market.

In conclusion, the potential approval of spot Dogecoin and Aptos ETFs by the U.S. SEC could mark a turning point for Ripple (XRP) and other altcoins. Investors and market participants will be closely watching the developments in this space as they navigate the ever-changing landscape of cryptocurrency investments.