The U.S. SEC has engaged more spot crypto ETF applicants recently, signaling potential approval soon.
Bitwise Asset Management filed amended S-1 registration statements with the United States Securities and Exchange Commission (SEC) for its proposed spot Dogecoin ETF and Spot Aptos ETF. The amended S-1 filing follows the June 12, 2025 delay from the U.S. SEC on the spot Dogecoin ETF, whereby the agency cited market risks and investor protection concerns.
According to the amended S-1 filing, Bitwise introduced in-kind creations and redemptions to enable authorized participants to exchange shares directly for Dogecoin. With the increased engagement between the U.S. SEC and fund managers, Bloomberg analysts, led by Eric Balchunas, estimate a 90 percent approval probability by the end of October 2025. The next step after this would be the intended exchanges filing for Form 19b-4 with the U.S. SEC.
The filing of amended form S-1 filings for Bitwise spot Dogecoin and Aptos ETF is a clear indication that the agency is looking to approve several similar products in the near future. As Coinpedia reported, the U.S. SEC has engaged with fund managers seeking to offer spot Solana ETFs.
Before the approval of the spot Bitcoin ETFs last year, the U.S. SEC engaged the fund managers in a similar manner as it has engaged with altcoin ETF issuers in the recent past.
The imminent approval of the spot Dogecoin and Aptos ETFs could follow a similar pattern to Ethereum’s, which recorded bearish sentiment after the final approval. Moreover, the spot altcoin ETFs have shown characteristics of an exit market from institutional investors.
Meanwhile, both altcoins continue to have a midterm bearish outlook, especially after BTC’s price struggled to rally consistently beyond $110k in the past few weeks.
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