Bitwise Seeks SEC Approval For Spot Aptos ETF, Driving $APT Price Up

Bitwise has filed for an $APT ETF. (Credit: IBTimes US)

KEY POINTS

• Bitwise said the $APT token was not a security and can be used for payments
• $APT's price surged 12% in the day following the news, trading at $6.50 one point
• Some crypto users believe $APT isn't suited for institutional offerings
• Other crypto users aren't surprised since $APT is "an American coin"

Cryptocurrency-specializing investment management firm Bitwise has filed an S-1 document with the U.S. Securities and Exchange Commission (SEC) for a spot Aptos (APT) exchange-traded fund (ETF), pumping the token's price.