As of the time of composing this article, 21Shares and VanEck have officially presented their ETF applications to the CBOE exchange. It is worth noting that these submissions have not had any impact on the price during the ongoing application period. However, it is important to consider the potential influence of the ETF news on the price before any speculation of rejection on the initial decision date triggers significant declines. It is crucial to keep in mind that there is a potential risk of a downward breakout at the $116 level, and if the price drops below this threshold, it could potentially lead to further declines to levels of $100 and $80.
