The SUI token – dubbed the 'Solana challenger' – just recorded a price increase of 9.3% to $3.73 after the digital asset management company 21Shares officially submitted a filing to the U.S. Securities and Exchange Commission (SEC) to seek approval for an ETF tracking the price of SUI.



Event details:



  • 21Shares just:



    • Submitting a filing to establish #SuiETF in the US.



    • Announcing a strategic partnership with the Sui blockchain, including product development and research collaboration.





  • The goal of the ETF is:



    • To create a bridge for institutional investors to access the SUI token more easily.


    • Strengthening SUI's position as a prominent layer-1 solution with high transaction processing speed.





    This ETF will not have staking rewards – in contrast to the similarly named product being issued by 21Shares in Europe (on the Euronext Amsterdam and Euronext Paris exchanges), where investors still receive staking rewards from SUI.



  • Coinbase will act as the custodian for this ETF, according to the content in the filing submitted to the SEC.




SUI price reacts strongly:



  • Just 24 hours after the above information, the price of $SUI increased by 9.3% to $3.73 (compared to around $3.39 previously).


  • In the last 14 days, SUI has increased a total of about 80%, although it is still below the price peak of $5.35 reached in January 2025.





Market context and moves from the SEC:



  • Canary Capital also filed a similar ETF for SUI in March, expected to be listed on the Cboe exchange. This exchange has now submitted a proposal to amend trading rules to the SEC – an important step in the approval process.



  • Meanwhile, #SEC is still delaying decisions on other ETFs like Dogecoin and XRP – at least until June.



  • 21Shares is also actively pursuing other crypto ETFs in the US, including:



    • Dogecoin ETF



    • XRP ETF



    • Polkadot ETF







Connecting to the crypto market:


The latest move from #21Shares shows that the crypto ETF race in the US is increasingly expanding beyond Bitcoin and Ethereum, as more and more organizations are interested in potential layer-1 blockchains like Sui. With strong price momentum and support from major names like 21Shares, SUI could emerge as a top choice in the portfolios of institutional investors if the ETF is approved.


For Binance users, tracking ETF developments like SUI can suggest large money flow trends and help position appropriate investment strategies – especially as the market gradually accepts more types of crypto assets beyond Bitcoin.



Risk warning: The cryptocurrency market is highly volatile and carries many risks. The information in this article does not constitute investment advice. Users should conduct thorough research and exercise caution when making decisions.