Aptos (APT) Surges 11% Following Bitwise’s ETF Filing with SEC
Aptos (APT), the 30th largest cryptocurrency by market capitalization, has seen a significant price increase of approximately 11% in the past 24 hours, trading around $6.20 at the time of writing. This surge follows crypto asset manager Bitwise’s filing of an S-1 registration statement with the Securities and Exchange Commission (SEC) to list a spot Aptos exchange-traded fund (ETF) in the United States.
All About the Aptos ETF Filing
Bitwise formally turned in documentation on March 5, 2025, to open an ETF tracking Aptos (APT). Just days after Bitwise formed a trust connected to the Aptos ETF in Delaware on February 28, indicating their plans for this fund, this filing is made.
The S-1 document claims Bitwise listed Coinbase Custody as the suggested custodian and decided not to add a staking capability for the proof-of-stake powered Aptos blockchain. The file omitted a proposed fee or ticker symbol and did not indicate which stock exchange would list the ETF.
Bitwise will also have to submit a 19b-4 form for the SEC to recognize prior to the 240-day review clock starting to proceed with the application.
What is Aptos (APT)?
Former Facebook (now Meta) workers Mo Shaikh and Avery Ching launched Aptos Labs in 2021, Originally called a possible “Solana killer,” the blockchain debuted in October 2022 as a fast, low-cost layer-1 blockchain. Aptos now boasts a market capitalization of $3.8 billion, around one-nineteenth the scale of Solana’s, despite this early comparison.
At $1.03 billion, the blockchain boasts the 11th highest total value locked (TVL) among blockchains; stablecoins account for nearly $830 million. Built using the Move programming language, Aptos is a scalable Layer 1 blockchain with an eye toward Web3 technology mass adoption.
APT/USD Technical Analysis
From a technical standpoint, APT has shown strong momentum following the ETF filing news. After consolidating near the $5.50 level for several weeks, the token broke through key resistance at $6.00 with significant volume, suggesting strong buying interest. The rapid 18% gain has pushed the token into overbought territory on short-term indicators, but continued institutional interest could sustain this upward movement.
Support levels currently sit around $6.00 and $5.80, while resistance may be encountered near $7.00, a level last seen in early February.
What Does an Aptos ETF Filing Mean for Other Crypto ETFs?
The Aptos ETF filings from Bitwise highlight an increasing trend of institutional investing in digital assets outside of Bitcoin and Ethereum. Bitwise’s ETF registrations, which include recent entries for Solana, XRP, and Dogecoin, show a departure from its usual focus on top cryptocurrencies by market size. Given its very lower market position.
This action emphasizes the asset manager’s past interaction with Aptos, having started a 4.7% return on staking yield Aptos Staking ETP on Switzerland’s SIX Swiss Exchange in November 2024. Comparably, competitor company 21 Shares started an Aptos Staking ETP in Paris and Euronext Amsterdam.
Once approved, the Aptos ETF would join an increasing number of crypto-based investment products, so integrating digital assets into conventional finance and maybe creating a standard for next ETF submissions targeted on developing blockchain initiatives.
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