Bitwise has filed an S-1 application for the Spot Uniswap ETF, opening up the possibility of UNI being accessed through traditional financial channels, although the price has yet to show clear signs of a reversal.
Against the backdrop of UNI sharp decline following the general market trend, ETF expectations are highlighting a crucial question: will increased cash flow and volume be sufficient to improve Uniswap 's price momentum in the near future?
- Bitwise filed an S-1 application for the Spot Uniswap ETF, aiming to directly track the UNI Token .
- Uniswap volume surged, recording an increase of approximately $200 million per day following the ETF announcement.
- Technical analysis still leans towards a downtrend, and ETF hype is not yet sufficient to confirm a price reversal.
Bitwise files for Spot Uniswap ETF
Bitwise has filed an S-1 filing for the Spot Uniswap ETF with the SEC, marking its first official attempt to launch an ETF that directly tracks UNI.
According to filings submitted to the U.S. Securities and Exchange Commission (SEC), Bitwise recently filed an S-1 for a Spot Uniswap ETF. The filings can be XEM on the SEC archives . This marks the first time a UNI focused ETF proposal has emerged that is "spot-tracked," meaning the fund will directly track the Token .
According to the filing, Staking was not implemented at launch. Bitwise suggests this may change later depending on the regulatory landscape. If approved by the SEC, Coinbase would Vai as the custodian.
This development could narrow the gap between traditional finance and investing in Uniswap, especially as ETF expectations are believed to have contributed to the 89% increase in daily volume . However, increased volume does not necessarily mean an immediate price reversal.
Uniswap 's DEX volume has increased sharply over the past month.
In the past month, Uniswap recorded a total volume of over $74 billion, averaging over $2 billion per day, and increasing by approximately $200 million per day following the ETF announcement.
Total trading Volume on this DEX protocol exceeded $74 billion last month, equivalent to an Medium of over $2 billion per day. Following the ETF-related news, daily volume saw an increase of approximately $200 million.
If the ETF is approved, the long-term impact could come from expanding the pool of investors with lower risk appetites, thanks to access through the ETF product. As confidence increases, new Capital inflows could continue to drive higher volume (liquidity and turnover) in the market related to UNI.
However, while the increase in volume has clearly impacted trading activity, its influence on the UNI price trend remains questionable. In crypto, price often requires additional factors such as the overall market trend, supply and demand structure, and confirming technical signals.
UNI price continues to break out of market structure in a downward direction.
UNI has maintained a downtrend since the end of November, with only a brief upward movement between December 18-20 before returning to selling pressure.
Price movements show that Uniswap has been consistently breaking down the market structure since the end of November. Between December 18th and 20th, UNI experienced a rebound, but it wasn't enough to sustain the new uptrend.
According to the Market Structure Break and OB Probability Toolkit, there are three areas considered to have "high opportunities" for short selling at the time of recording: $5,394, $4,854, and $4,707. These areas are associated with the context of prices still being in "bear territory".
Selling momentum is also reinforced by signals from the MACD, as selling pressure is reflected in the indicator's structure and momentum. This makes a bullish reversal more difficult without a strong catalyst or if the broader market has not yet recovered.
ETF hype may gradually weaken selling pressure, but it's not enough to confirm a reversal.
The MACD bar has recently decreased in thickness, suggesting that selling pressure may have weakened somewhat, but most signals still lean towards selling, so it's too early to conclude that a reversal is due to ETFs.
One notable point is that the MACD bars have recently tended to decrease in density, which is often interpreted as potentially weakening momentum. This could be an initial impact from ETF sentiment, but more data is needed to confirm a sustainable trend shift.
Meanwhile, most of the indicators mentioned remain "biased" towards selling, making an upward reversal scenario difficult to form based solely on news. For UNI, a sustainable recovery typically requires a combination of factors: improved price structure, sustained buying pressure, and more favorable overall crypto market conditions over time.
Conclude
Bitwise has filed for a Spot Uniswap ETF and the market has seen a significant increase in volume , but technical signals currently do not indicate a clear reversal for UNI .
- Bitwise has filed for a Spot Uniswap ETF, accompanied by an increase of approximately $200 million in daily volume .
- Despite the "ETF hype," UNI price action has yet to show a clear reversal signal.
Frequently Asked Questions
What is a Spot Uniswap ETF and how does it differ from other Derivative products?
The Spot Uniswap ETF is an ETF designed to directly track the price of the UNI Token. Unlike Derivative products, spot ETFs aim to reflect the price of the underlying asset rather than relying on Futures Contract or leverage structures.
What does Bitwise's S-1 filing say about UNI Staking ?
The filing states that Staking will not be available at the ETF launch. Bitwise suggests this may change later depending on developments and regulatory approvals.
How did the ETF news impact Uniswap 's volume ?
The data in the original content indicates that daily volume increased by 89% and surged by approximately $200 million following the ETF news. Over the past month, total Volume on Uniswap exceeded $74 billion, Medium over $2 billion per day.
Why can UNI prices still fall even when volume increases?
Increased volume may stem from two-way trading and high volatility, but it doesn't necessarily mean overwhelming buying pressure. If the market structure remains bearish and momentum indicators lean towards selling, prices may continue to face pressure despite increased activity.
Which price levels are considered favorable zones for sellers according to technical analysis?
The zones identified are $5,394, $4,854, and $4,707. These are described as “high-opportunity zones” for short-selling scenarios when prices remain in a downtrend.
