Dogecoin & Aptos ETFs: S-1 Filings Hint at SEC Engagement

Dogecoin and Aptos ETFs are potentially on the horizon, with recent S-1 filing amendments suggesting the SEC is engaging with issuers. Could this mean altcoin ETFs are closer than we think?

Bitwise Updates Its Altcoin ETF Filings

Bitwise Asset Management has filed amended S-1 registration statements for its proposed spot Dogecoin and Aptos ETFs with the SEC. This move follows a delay on the spot Dogecoin ETF back in June, where the SEC cited market risks and investor protection concerns.

These amended filings are significant because they suggest behind-the-scenes dialogue with the SEC. Bitwise was the first to file for an Aptos or Dogecoin ETF, and the updates may indicate that the SEC is seriously considering these applications.

Key Updates: In-Kind Creations and Redemptions

One notable update in the amended S-1 filings is the introduction of in-kind creations and redemptions. This feature would allow authorized participants to exchange shares directly for Dogecoin or Aptos. It’s a crucial sign, as it’s a coveted ask from ETF issuers.

Eric Balchunas, a Bloomberg analyst, estimates a 90 percent approval probability by the end of October 2025, thanks to increased engagement between the SEC and fund managers.

Aptos's Institutional Breakthrough

Aptos recently tied for first place with Solana in Wyoming's stablecoin competition. This sort of institutional acceptance is unprecedented in the US and may influence the SEC’s decision.

Dogecoin, however, hasn’t had a similar breakthrough. Still, the inclusion of in-kind creations and redemptions in the revised Dogecoin ETF proposal could be a game-changer.

Market Impact and Future Outlook

The approval of spot Dogecoin and Aptos ETFs could follow a similar pattern to Ethereum’s, which saw bearish sentiment after approval. Spot altcoin ETFs have shown characteristics of an exit market from institutional investors. Both altcoins continue to have a midterm bearish outlook.

Final Thoughts

While nothing is certain, these amended filings are a positive sign. The SEC currently has over 70 altcoin ETFs to review, so the competition is fierce. But hey, at least we're one step closer to potentially seeing Dogecoin and Aptos ETFs. To the moon?