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

Dogecoin＆Aptos ETFS：S-1文件提示SEC參與

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?

Dogecoin和Aptos ETF有可能即將上映，最近的S-1備案修正案表明SEC正在與發行人互動。這是否意味著Altcoin ETF比我們想像的要近？

Bitwise Updates Its Altcoin ETF Filings

位更新其altcoin ETF文件

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.

Bitwise Asset Management已將其擬議的Spot Dogecoin和Aptos ETF與SEC提交了修訂的S-1註冊表。這一舉動延遲了6月的Dogecoin ETF，SEC引用了市場風險和投資者保護的問題。

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.

這些經過修訂的文件很重要，因為它們建議與SEC的幕後對話。 Bitwise是第一個為Aptos或Dogecoin ETF申請的人，更新可能表明SEC正在認真考慮這些應用程序。

Key Updates: In-Kind Creations and Redemptions

關鍵更新：實物創作和贖回

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.

修訂後的S-1文件中有一個值得注意的更新是引入實物創作和贖回。此功能將允許授權參與者直接將股票與Dogecoin或Aptos交換。這是一個至關重要的跡象，因為它是ETF發行人的令人垂涎的問題。

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.

彭博社分析師埃里克·巴爾庫納斯（Eric Balchunas）估計，由於SEC和基金經理之間的參與度增加了，到2025年10月底，到2025年10月底的批准概率為90％。

Aptos's Institutional Breakthrough

Aptos的機構突破

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.

Aptos最近在懷俄明州的Stablecoin比賽中與Solana並列第一。在美國，這種機構接受是前所未有的，可能會影響SEC的決定。

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.

但是，多黴素沒有類似的突破。儘管如此，在修訂後的Dogecoin ETF提案中納入了實物創作和贖回可能會改變遊戲規則。

Market Impact and Future Outlook

市場影響和未來前景

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.

Spot Dogecoin和Aptos ETF的批准可能遵循與以太坊類似的模式，以太坊的模式在批准後看到了看跌的情緒。 Spot Altcoin ETF顯示了機構投資者出口市場的特徵。這兩個山寨幣都在中期看跌前景。

Final Thoughts

最後的想法

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?

雖然沒有肯定的是，這些修訂的文件是一個積極的信號。 SEC目前有70多個Altcoin ETF進行審查，因此競爭非常激烈。但是，嘿，至少我們更接近可能看到Dogecoin和Aptos ETF。到月球？