Bitwise has recently amended its filings for spot ETFs on Dogecoin (DOGE) and Aptos (APT), signaling renewed engagement with the U.S. Securities and Exchange Commission (SEC). Bloomberg Senior ETF Analyst Eric Balchunas highlighted this development as a positive sign aligned with ongoing spot crypto ETF approval processes.
A key addition to Bitwise's updated filings is the inclusion of "in-kind" creation and redemption mechanisms. This allows investors to exchange ETF shares directly for the underlying cryptocurrencies instead of cash, a highly sought feature among ETF issuers but not present in initial applications filed in January 2025.
Aptos has gained recent institutional traction, notably becoming a finalist in Wyoming’s stablecoin competition alongside Solana, positioning it well for official state-backed stablecoin deployment. This institutional acceptance may increase its chances for ETF approval.
Dogecoin has not seen similar recent breakthroughs but benefits from the updated filing's in-kind mechanisms, which may demonstrate SEC willingness to approve such requests.
While encouraging, these filings are part of a broader queue of over 70 altcoin ETF applications under SEC review, so final outcomes remain uncertain. The updates suggest ongoing behind-the-scenes dialogue and potential progress but no guarantees at this stage.