Aptos (APT) has seen a sharp rise in price thanks to Bitwise‘s plans to release ETF based on this cryptocurrency.
On March 5, Bitwise filed an application with the U.S. Securities and Exchange Commission to approve trading in a new exchange-traded fund called Bitwise Aptos. ETF. The document states that APT coins purchased in exchange for issued shares of the derivative will be stored in the Coinbase Custody service, but the name of the exchange on which the listing will be carried out is not known. ETF, has not yet been reported.
The progress in creating a fund based on Aptos has predictably had a positive impact on the rate of the digital asset, increased by 15% in the last XNUMX hours. Thanks to the bullish trend, APT has come closer to its closest competitor NEAR Protocol (NEAR), which ranks 31st in the cryptocurrency rankings with the highest market capitalization. The current difference between the value of issued coins of APT and NEAR is only $13 million, so Aptos has a chance to overtake its rival in the foreseeable future.
Aptos price growth over the last 24 hours
Aptos is primarily notable for the decentralized services developed on the basis of its blockchain. The APT network ranks 11th in terms of the amount of cryptocurrency assets locked on blockchains, exceeding $1 billion. 83% of these funds are stablecoins. Among the most popular DeFi in the Aptos network were lending and staking platforms such as Aries Markets and Amnis Finance, which allow you to earn passive income by locking coins.