BITWISE DOGECOIN, Aptos ETF Submission Update approval route proposal: Analyst

According to ETF analyst ETF analyst in Bloomberg, the modified spot dogecoin and Aptos Exchange trade funds for the Bitwise Asset Management and Aptos Exchange Trade Fund are We suggest that the driving force is increased after the Crypto ETF approval.

speaking decoding BALCHUNAS updated on Thursdays on Bitwise’s updated guidance on separate SPOT Dogecoin and Aptos ETF, which shows a warm relationship between fund publishers and US Securities Trading Commissions.

BALCHUNAS said, “There was a lot of participation.” It is a completely new attitude of the SEC. Everything we hear is much more optimistic than what we heard in Bitcoin Saga, and many are like ‘how can we work together’ instead of emphasizing the publisher. “

BALCHUNAS wrote in the X Post a day that “interactions are tracked by other spot approval,” BALCHUNAS wrote early on that day.

The revised S-1 registration statement is one of the latest developments surrounding the Altcoin-centric ETF, which is currently measured by the US Securities and Exchange Commission.

On Wednesday, INVESCO applied for a Solana -centered fund, and CBOE submitted a change of rules that enabled the product list based on the price of Pudgy Penguins tokens.

The publisher has submitted a submission to more than 30 Spot Altcoin ETFs over the past year as demand for digital-asset investment products has soared after the success of the SPOT BITCOIN and Ethereum Funds and the preference of the trump administration.

BALCHUNAS mentioned that modified Dogecoin and Aptos applications will allow them to create and restrain spots, which are the features found by multiple publishers.

“I’m not kind to Doge ETF if I don’t say that it’s Cosher.” “If it’s Doge ETF’s Cosher, it will be the purification of Bitcoin, a much larger market.” It is close to 100%in the friendly creation of all funds. “

In -kind repayment and creation can bypass the need for cash by directly exchanging basic assets of ETF (Bitcoin or Ethereum) for ETF stocks.

Participants sell basic encryption to create stocks to reduce bidding spreads and avoid additional broker commissions.

BALCHUNAS anticipates that Dogecoin, Aptos and other Altcoin funds will be approved within the next two to four months, and the SEC group decision will make a decision by assets on various days.

“I don’t think they approve Solana, XRP and everything at once,” he said. “I think we’ll do one at a time in order not to overwhelm the market and the market manufacturer. They will twist them.”

Last week, he It is expected that the SEC is more than 95% of the probability that can approve Solana, XRP and Litecoin ETF, and 90% of Dogecoin and other ALTCOIN funds. Their approval.

Bitwise has a funding application for tracking XRP, Solana and Near and is currently pending before the SEC.

According to the British asset manager, FARSIDE Investors, SPOT BITCOIN FUND has invested more than $ 2.1 billion after receiving green lights from regulators on January 10, 2024.

This fund now manages about $ 130 billion in assets, indicating one of the most successful ETF launches in history.

Bitwise’s Spot Ethereum Fund has a net inflow of $ 350 million.

Dogecoin has recently fallen 3% in the last 24 hours to about $ 0.16. According to Coingecko data, the 9th most popular meme coin was decreased by 30% last month, which was reduced to part of the extended slump last month.

The APT is a token of the Layer-1 APTOS blockchain, and the APT has been slightly traded at less than $ 5, up 1.7% on Wednesday. It has decreased by more than 9% over the last 30 days.

Edited by SEBASTIAN SINCLAIR