Aptos crypto is one of the top discussed altcoins in the crypto market today, especially with the latest surge in the APT price.
Besides, the Bitwise CEO announcing that his firm has submitted an S-1 filing with the US SEC to launch an Aptos ETF has further bolstered market sentiment.
On the other hand, the CEO has further sparked discussions as he lauds the project and its efficacy in the blockchain space.
It’s worth noting that the crypto is also among the top projects by development activity growth, which indicates that it might continue its rally in the near future.
Meanwhile, amid the positive developments surrounding the project, analysts are also optimistic about the future trajectory of the APT price.
While some predict a potential Aptos price rally to $7, others have shared more ambitious targets, that has caught the eyes of traders.
Adding to the momentum, the recent on-chain data further backs the bullish predictions shared by the traders. So, here we explore the recent developments on the Aptos ETF and what analysts are projecting for the crypto in the near future.
Bitwise Files for Aptos ETF, APT Price Reacts
In a recent X post, Bitwise CEO Hunter Horsley confirmed that his firm has already filed an application with plans to launch the Aptos ETF.
According to his post, Bitwise has already filed an S-1 form to launch the APT ETF in the US market.
However, he said, “Can’t say more during quiet period.” Despite that, Bitwise CEO has lauded the recent developments in the “Aptos ecosystem,” which reflects his growing confidence in the asset.
Besides, the confidence of Horsley in the asset is further evidenced when a user queried, “What hole does Aptos fill?”
Replying to that, the Bitwise executive has lauded the speed and cost efficacy of the Aptos crypto, which is one of the key features in the blockchain space.
Aptos Crypto Price Reaction: A Quick Tour
Soon after the news broke out, APT price surged nearly 2% and traded at $5.4, while its trading volume jumped around 16% to $563 million.
Notably, the crypto has hovered between the 24‑hour high and low of $5.55 and $5.12. On a weekly basis, the Aptos crypto price has added more than 25%, reflecting the bullish sentiment among traders.
Simultaneously, the monthly chart shows a return of over 21%, further bolstering the broader market sentiment.
Meanwhile, it’s worth noting that the altcoin ETF discussions are heating up in the market. Amid this, the Bitwise filing indicates a strong rally in APT price in the near future, depending on the approval of the investment instrument.
Amid this, the market pundits have already shared their views on the potential future movements of the Aptos price.
For context, some market pundits expect the crypto to soar past the $7 mark amid the crypto “Uptober” optimism.
What’s Next for APT Price?
The Aptos ETF update comes amid a flurry of developments hovering over the market. For context, a recent The Coin Republic Report shows that World Liberty Financial has partnered with APT project to launch the USD1 stablecoin on the Aptos Network.
This development has gained notable traction from market participants. Besides, the market experts are also reiterating their bullish forecasts on the project.
Meanwhile, in a recent X post, analyst Lennaert Snyder said that “APT is pumping with great volume.” Besides, he noted that $4.7 level marks as a key support for the asset.
According to the expert, the next key resistance level for Aptos crypto lies at $5.45. He noted that once that resistance level is breached, the crypto might target the $6.18 mark and eventually $6.7 level in the near future.