Key Insights
- Bitwise has registered an Aptos ETF entity in Delaware.
- The registration of an Aptos ETF entity by Bitwise indicates a growing institutional interest and adoption of the Aptos ecosystem.
- APT price dropped over 7% amid a market-wide selloff.
Bitwise Asset Management has taken a significant step by registering an Aptos ETF entity in Delaware. Initially, this news led to a surge in Aptos (APT) price by over 10% intraday.
However, later, it wiped out the initial gains and turned negative. At press time, APT price was trading at $5.70, noting an intraday decline of over 7.30%.
Its market cap stood at $3.34 Billion and ranked 29th in the overall crypto market. This development places Aptos among the digital currencies that may get ETF debuts before the end of 2025. It sparked increased interest and demand this week.
The Bitwise filing represents the asset management industry’s inaugural attempt at launching dedicated Aptos ETFs. This positions Bitwise to lead the way to reaching a wider investment market of token holders.
Aptos Price Prediction: Is a Major Rally Ahead
Aptos price was trading above its key support zone of $5. It was looking for a cross above the 20-day EMA mark for a reversal. Since the start of this month, it has caged inside a narrow range and witnessed lower interest among the participants.
However, a recent post by CryptooELITE revealed that Aptos crypto could see a significant bull run. Per the analyst, APT price showcased a rounding bottom pattern and could soon break its neckline hurdle of $6.40.
In case of a successful breakout, Aptos price could surge toward $20 in the short term. However, a cross above $20 could pave the way toward $40, followed by $80 and $100 in the next few weeks.
Furthermore, the price action conveyed signs of accumulation amid recent speculation regarding ETFs.
Aptos Ecosystem Growth: What’s Driving the Growth
The Aptos ecosystem has become an attraction for institutions to invest their assets. Positive growth indicators of the network demonstrate the main reasons institutions actively seek exposure in the ecosystem.
The total value locked shows a parabolic growth pattern, as shown by one of the key metrics. The Aptos Total Value Locked reached 12 million APT in the beginning of 2024 before surpassing 173 million APT during recent periods.
Aptos stablecoin market cap has also been on an aggressive uptrend that recently saw it clock a new ATH. It kicked off 2024 with a $49.18 Million stablecoin market cap, and it peaked just above $848 Million earlier this month.
What’s Next for Aptos?
The Bitwise verdict has profoundly impacted Aptos and the broader cryptocurrency business. By obtaining SEC clearance, the ETF would allow institutional investors to enter Aptos markets. As a result, Aptos price may increase both visibility and value.
The filing process of Bitwise’s Aptos ETF brings major progress to the growing interest among investors for alternative cryptocurrencies. The involvement of institutional investors in crypto markets indicated a positive outlook for Aptos and the rest of the industry.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
