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SUI ETF

Cboe BZX Files for First-Ever Spot SUI ETF in the U.S., Sui Price Surges

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  • Cboe BZX’s SUI ETF filing aims to bring SUI into regulated markets.
  • Canary Capital proposes staking rewards to enhance SUI ETF returns.
  • SUI price shows recovery, testing key support levels near $2.00.

Sui’s price saw a slight recovery after Cboe BZX filed an application to list the first-ever spot SUI ETF in the U.S. This move aims to introduce the SUI token into regulated financial markets. As of the filing, The price SUI rose to $2.02 after the announcement which marks a 2% increase from a week of decline.

Canary Capital SUI ETF

The proposed Canary SUI ETF will track the performance of the SUI token. If approved the ETF will be traded on the Cboe BZX Exchange. The application states that a portion of ETF holdings will be staked to earn income from staking rewards.

In the filing, Canary Capital, the ETF sponsor, stated that the trust could stake some of its SUI holdings. The staking rewards will contribute to the fund’s revenue. However, the proposed ETF will not participate in any future SUI forks or airdrops.

The proposed Canary SUI ETF comes after the SEC approved Bitcoin and Ethereum spot ETFs in 2024. Cboe BZX Exchange stated that its SUI ETF strategy complies with SEC regulatory requirements. The SEC requirements for ETF approval include investor protection and fraud prevention measures.

Price Action, Resistance at $2.00

Sui tokens have recorded major price drops from their all-time high value earlier this year. The token depreciated from $2.84 to its current value and shows signs of furher decline. Analysts have identified key support levels at $1.80 and $1.60 and $1.30.

SUI Price
Cboe BZX Files for First-Ever Spot SUI ETF in the U.S., Sui Price Surges 2

The SUI price demonstrates a recovery pattern towards the $2.00 support level. This area functions as a psychological and technical support zone.  If SUI crosses above the $2.20 resistance level the price could rise to $2.50 or even $2.80.

Analysts have stated that a failure to hold above $2.00 could cause the SUI to slide towards lower support levels. The $1.80 and $1.60 support levels have attracted considerable investor interest in the past. The market maintains a neutral to bearish trend until a breakout happens.

Other Canary Capital ETFs

Moreover, Canary Capital has filed for multiple spot crypto ETF proposals. The company has filed for ETFs that track prices for Litecoin, XRP, Solana and Hedera. The firm’s Litecoin ETF is now listed on the Depository Trust and Clearing Corporation (DTCC) database.

Canary Capital’s application for a SUI ETF demonstrates the increased demand for regulated crypto assets. The proposed SUI fund will be backed by the firm’s Delaware trust. The SUI token, created by Mysten Labs, holds a market market capitalization of $7.4 billion.

The filing reflects the increased institutional interest in cryptocurrency-based financial products. Additionally, Canary Capital has submitted applications for Litecoin and Solana ETFs. Canary seeks to provide investors with diverse investment opportunities.

Sui’s Price Climbs as Canary Capital Files for first ETF in US SEC filing

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  • Canary Capital files its sixth crypto ETF with the SEC, focusing on Sui blockchain token.
  • Trump-backed World Liberty Financial’s Sui partnership fuels regulatory optimism and market interest.
  • Analysts predict a breakout, with Pushpendra Singh setting a $7 target for Sui’s price.

Canary Capital is pushing forward with its crypto investment ambitions, filing for its sixth crypto exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This time, it’s targeting Sui, the native token of a layer-1 blockchain that plays a crucial role in staking and transaction fees.

The Form S-1 filing, submitted on March 17, seeks approval for the Canary SUI ETF, although details on its exchange listing and ticker symbol remain undisclosed. If approved, this ETF would directly hold Sui, which currently ranks 23rd among cryptocurrencies with a market capitalization of approximately $7.36 billion.

This marks another ambitious step for Canary Capital, which has actively pursued ETF approvals in recent months. The firm has previously filed for ETFs tied to Solana, Litecoin, XRP, Hedera, and Axelar, indicating a broader push to capitalize on the growing demand for regulated crypto investment products.

Sui ETF
Source: SEC.Gov

Political Winds and Market Reactions

The timing of Canary’s ETF filing is significant, coming just days after Sui announced a strategic partnership with World Liberty Financial on March 6. This crypto platform, notably backed by U.S. President Donald Trump, has been incorporating Sui into its “Macro Strategy” token reserve while exploring additional joint product opportunities.

Trump’s stance on crypto has been a key factor influencing market sentiment. His promise to ease regulatory pressure on digital assets has fueled expectations that the SEC, under his administration, may become more open to approving crypto-related investment vehicles. This regulatory optimism has led to a flurry of ETF applications, with firms positioning themselves ahead of potential policy shifts.

Meanwhile, the token’s price has responded positively to the ETF news. Trading at $2.92, the token saw a 1.92% increase over the past 24 hours and a 5.73% gain over the week. However, it remains significantly below its all-time high of $5.35, recorded on January 5, marking a 56.5% decline from that peak.

SUI 1D graph coinmarketcap 2
Source: CoinMarketCap

Sui’s Technical Setup Signals Potential Rally

Market analysts are closely watching Sui’s price action, with some identifying bullish technical patterns that could indicate an upcoming rally. Crypto analyst Ted recently highlighted an inverse head and shoulders pattern on the 2-hour chart, suggesting a breakout could be on the horizon.

According to Ted, $2.45 is a crucial resistance zone, and if breached, it could trigger a strong upward movement. His analysis aligns with a broader sentiment of growing institutional interest, with the ETF filings adding further momentum to its potential upside.

SUI
Source: Ted

Another prominent voice, Pushpendra Singh, Co-founder of PushpendraTech, weighed in on March 18, stating, “We’re currently in a strong buying zone, and a breakout to the upside could be imminent.” Singh is eyeing a mid-term target of $7, representing an aggressive 200% potential upside from current price levels. 

Crypto forecasting platform CoinCodex predicts that the token could climb even higher, potentially reaching $7.77 by April 16, 2025. If these forecasts hold, the approval of the Canary SUI ETF could serve as a major catalyst for price appreciation, offering investors a regulated way to gain exposure to the asset.

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Sui (SUI) Positioned for Strong Price Surge as Institutional Interest Builds

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  • Sui (SUI) has seen a 4% rise in the past week and 3% in the last 24 hours, showing resilience in a volatile market.
  • Institutional interest is growing, with Canary Capital filing for an ETF and World Liberty Financial adding SUI to their reserve fund.
  • Sui’s bullish signs include a falling wedge pattern and a positive retest of its all-time high, suggesting potential for growth.

Sui (SUI), the layer-1 blockchain project, has gained significant attention in recent weeks, showing promising signs of a potential price surge. With a nearly 4% increase over the past week and a 3% rise in the last 24 hours, SUI is proving resilient amidst the volatility of the overall crypto market. As institutional interest grows and strategic partnerships form, Sui appears poised to target higher price levels, making it a token worth watching.

Growing Institutional Support for Sui (SUI)

One of the most notable developments for Sui recently is the growing institutional interest. Canary Capital, a renowned investment firm, has taken a significant step towards launching a SUI exchange-traded fund (ETF). The firm filed for a trust entity in Delaware, awaiting approval from the U.S. Securities and Exchange Commission (SEC). This regulatory filing is a clear indication of Sui’s growing recognition in traditional finance and the increasing demand for access to this promising blockchain project.

Additionally, World Liberty Financial has partnered with Sui, announcing plans to include the token in its strategic reserve fund, “Macro Strategy.” This partnership adds credibility to Sui’s position in the market and showcases how traditional financial institutions are increasingly interested in the blockchain’s future prospects.

Sui (SUI) Technical Analysis

From a technical perspective, Sui is presenting several bullish signs that suggest a potential breakout. Crypto analyst Alex Clay pointed out a falling wedge pattern on the daily chart, a typical bullish reversal signal. Furthermore, Sui has positively retested its former all-time high, further supporting the optimistic outlook for the token.

image 40 8
Sui (SUI) Positioned for Strong Price Surge as Institutional Interest Builds 7

While SUI still needs to break through critical resistance levels, including the 50, 100, and 200-day exponential moving averages (EMAs), the overall trend appears to be shifting in favor of bulls.

Broader Market Trends and Bitcoin’s Influence

The overall crypto market has been experiencing fluctuations, and Bitcoin’s price action has played a key role in this. Recently, Bitcoin faced a sell-off as traders reacted to the U.S. government’s Bitcoin Reserve plan.

However, Bitcoin quickly rebounded by 4%, demonstrating resilience in the face of short-term volatility. This rebound suggests that the crypto market remains strong, with many altcoins like Sui benefiting from the recovery.

As Bitcoin continues to regain momentum, altcoins such as Sui are poised to follow suit, potentially setting the stage for a breakout. Sui’s recent price movements, combined with increasing institutional interest and strong technical indicators, make it one of the most promising projects in the crypto space.

The token’s upward trajectory is further fueled by strategic partnerships and its growing recognition in traditional finance circles. As the SUI ETF filing moves through the regulatory process and new partnerships emerge, there is strong potential for Sui to reach new price targets.

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