Within the scope of the Form 19b-4 of the CBOE BZX Stock Exchange, the ETF application submitted to the US Securities and Stock Exchange Commission (SEC) drew attention. After the file, the price of water was observed, while the Token experienced an increase of approximately 2 %after the weekly decrease.
Water Coin Etf
The product aims to be launched with the application supported by Canary Capital and aims to be traded on the CBOE BZX Stock Exchange under the name of “Canary SUI ETF”. In the application file, it is stated that ETF’s water tokens will be included in the portfolio and that stake can be provided at certain rates.
According to the statement in the file, the Stake awards obtained by ETF were considered as income, while future divisions or token distributions were excluded.
CBOE BZX Exchange: “Exchange evaluates that the proposal meets the requirements to prevent fraud and manipulation applications.”
Canary Capital: “Sponsor may confront all or part of Trust’s water assets through reliable Stinging providers.”
The ETF application of Canary Capital has followed the ETF application last year after the Spot Bitcoin and Ethereum products and is fed by increasing motivation with the changing SEC management. Supported with a Delaware -based trust, the application is also evaluated in terms of compliance with regulatory requirements.
Technical Analysis and Price Expectations
The price of the SUI token experienced a significant decrease process after the summit of around $ 2.84 at the beginning of the year. Price movements revealed the importance of technical support levels by creating lower peaks and bottoms in a downward channel.
Analysts say that the current $ 2.00 level is a critical point. If the vertical trend line breaks and psychological resistance levels are exceeded, the targets between $ 2.50 and $ 2.80 may come to the agenda. Otherwise, it is predicted that the support levels of $ 1.80 and $ 1.60 are likely to be re -tested.
The interest of the ETF application in the market and the developing regulatory framework is expected to contribute to the capture of a positive acceleration in the transaction volume of the water token. In the light of these developments, investors and market observers closely follow the existing technical formations.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
