Bitwise Submits S-1 for Spot Sui ETF Trust
Bitwise's S-1 Filing: Bitwise Investment Advisers has submitted a Form S-1 registration statement to the SEC for a proposed Sui ETF, aiming to provide investors with spot exposure to SUI through a brokerage account while managing custody and reporting.
Custody and NAV Mechanisms: The trust will use Coinbase Custody Trust Company as its custodian and will reference the CME CF Sui Dollar Reference Rate for net asset value (NAV), which will be crucial for tracking the ETF's performance.
Share Creation and Redemption Process: The ETF will operate with a creation and redemption mechanism involving baskets of 10,000 shares, allowing authorized participants to transact directly with the trust, which is essential for maintaining share price alignment with NAV.
Staking and Market Competition: The trust plans to stake some or all of its SUI, introducing potential rewards and risks, while competing filings from other issuers indicate a growing demand for SUI exposure despite regulatory uncertainties.
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Technical Analysis for SUI
Technical Sentiment Analysis for Sui (SUI) As of , Sui (SUI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SUI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SUI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sui (SUI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.304 | 0.546 | 0.794 | 1.036 | 1.285 | 1.527 | 1.775 |
| Fibonacci | 0.546 | 0.733 | 0.849 | 1.036 | 1.224 | 1.34 | 1.527 |
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