Nasdaq boosts SUI ETF amid institutional wave.
The Nasdaq submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) with the aim of listing the 21Shares SUI ETF, initiating the formal review process to launch an exchange-traded fund based on the SUI token.
This move represents a key step towards the potential approval of the first spot ETF for an altcoin after Ethereum, in a context where the Sui ecosystem shows signs of recovery. According to the Sui Foundation, the registration marks a milestone on the path to institutionalizing the project, backed by rising metrics and growing investor interest.
Currently, over $300 million is invested in SUI products in Europe, reflecting a demand that now seeks regulated access in the United States. The innovative architecture of Sui, with scalable infrastructure and object-oriented programming, has facilitated its adoption in sectors such as DeFi, video games, and tokenization of real assets.
Bitcoin price in volatility during the second day of China and U.S. talks.
Michael Saylor dismisses a new crypto winter and projects Bitcoin heading towards a million dollars.
Michael Saylor, Executive Chairman of MicroStrategy, dismissed the possibility of a new 'crypto winter' and stated that Bitcoin is on track to reach a million dollars, driven by its increasing adoption and limited daily supply. 'The winter is not going to return. We have already passed that phase; if Bitcoin doesn't go to zero, it will reach a million,' he said in an interview with Bloomberg.
Saylor explained that around 450 BTC are mined daily, equivalent to about $50 million, and that institutional demand is already absorbing that supply. 'If those $50 million are bought, then the price has to rise,' he stated. His firm has already accumulated 582,000 BTC since 2020, valued at over $63.8 billion.
The executive also highlighted the support of former President Donald Trump and high-ranking U.S. officials for the Bitcoin ecosystem, along with the interest of traditional banks in offering custody services.
Saylor's bullish forecast aligns with the update made in April by ARK Invest, which raised its Bitcoin price estimate to $2.4 million for 2030. According to Saylor, the current level already allows for 'spinning the entire axis of the crypto economy,' and if the price rises to $500,000 or a million, it could revert to more stable levels around $200,000 per unit.
