From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Bitwise Asset Management has taken the first step toward launching an Aptos (APT) exchange-traded fund (ETF), filing for a Delaware trust linked to the proposed product. 

This move positions Bitwise as the first asset manager to pursue an ETF dedicated to Aptos.

Bitwise Lays the Groundwork for an Aptos ETF

The filing with Delaware’s Division of Corporations, dated February 25, is a preliminary step in registering the trust for the proposed Aptos ETF. This move does not guarantee immediate approval or the fund’s launch.

Next, Bitwise will need to submit a formal application to the US Securities and Exchange Commission (SEC). This will include a detailed prospectus outlining the ETF’s structure, investment strategy, and how it plans to track Aptos. 

The SEC will then review the application, which could take several months. It can either approve, reject, or request modifications to the proposal. 

If approved, the Aptos ETF would allow institutional and retail investors to gain exposure to APT tokens without purchasing or managing the cryptocurrency directly, potentially boosting liquidity and mainstream adoption.

It is worth noting that Bitwise’s registration of an Aptos ETF in Delaware follows the launch of several Aptos exchange-traded products (ETPs) in Europe, including the Bitwise Aptos Staking ETP and the 21Shares Aptos Staking ETP.

For context, Aptos is a Layer 1 blockchain designed for scalability, security, and reliability. It was developed by former Meta (Facebook) engineers who previously worked on the now-defunct Diem project. Aptos uses the Move programming language, originally created for Diem, to enhance security and efficiency in smart contracts.

The prospect of a US ETF tied to APT highlights a broader trend among asset managers to diversify beyond Bitcoin (BTC) and Ethereum (ETH) ETFs, which have dominated the space since their approvals last year. 

Bitwise’s move follows its earlier registrations for ETFs linked to XRP (XRP), Solana (SOL), and Dogecoin (DOGE). This signals a strategic push to capitalize on the growing appetite for altcoin-based investment vehicles.

Meanwhile, the filing has sparked a double-digit surge in APT. The altcoin jumped 12.4% in the past 24 hours. 

The cryptocurrency, currently ranked 36th by market capitalization, was trading at $6.31 at press time. Its trading volume also saw a significant boost, rising 14.15% to $336.42 million.

Ethereum price started a fresh decline from the $2,450 resistance zone. ETH is now consolidating losses and might face hurdles near $2,400 and $2,450.

• Ethereum is facing an increase in selling below the $2,450 zone.
• The price is trading below $2,500 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance at $2,390 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent upward move if it settles above $2,400 and $2,500.

Ethereum Price Extends Losses

Ethereum price failed to clear the $2,550 resistance zone and started a fresh decline, like Bitcoin. ETH gained pace below the $2,500 and $2,450 support levels to move further in a bearish zone.

The price declined over 5% and even traded below the $2,320 support zone. A low was formed at $2,251 and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $2,519 swing high to the $2,251 low.

Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,390 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $2,380 level or the 50% Fib retracement level of the downward move from the $2,519 swing high to the $2,251 low. The first major resistance is near the $2,420 level.  The main resistance is now forming near $2,450.

A clear move above the $2,450 resistance might send the price toward the $2,500 resistance. An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,620 in the near term.

Another Drop In ETH?

If Ethereum fails to clear the $2,500 resistance, it could start another decline. Initial support on the downside is near the $2,315 level. The first major support sits near the $2,250 zone.

A clear move below the $2,250 support might push the price toward the $2,200 support. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,250

Major Resistance Level – $2,500