Sui has once again drawn investor attention after 21Shares submitted a revised filing for its Sui exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
The update, filed late on October 23, outlines new details about staking operations, custody partners, and Nasdaq as the proposed exchange for trading.
The move comes at a time when the SEC’s decisions on multiple crypto ETF proposals remain delayed due to the ongoing U.S. government shutdown. Despite the uncertainty, the amended filing immediately lifted sentiment around SUI, pushing its price up more than 2% to around $2.47 within an hour.
Staking and Custody Framework Detailed
The new filing by 21Shares introduces a full section titled “Staking of Trust’s Assets,” outlining parameters that govern the fund’s staking activities. According to the document, Coinbase Crypto Services will act as the staking provider under a two-year agreement, validating and generating transaction blocks for the trust.
The ETF will use Coinbase Custody as its digital asset custodian and The Bank of New York Mellon as the cash custodian. Nasdaq has been selected as the exchange for listing and trading shares once the SEC grants approval. However, no specific ticker or fee structure has been disclosed yet.
The Sui ETF is designed to mirror the performance of SUI through the CME CF Sui Dollar Reference Rate. Details regarding the transfer agent and marketing partners will be announced in future amendments.
Institutional Confidence Grows: Cantor Fitzgerald’s Bullish View
Institutional confidence in Sui appears to be growing beyond the ETF filing. A new 44-page research report from Cantor Fitzgerald, led by analyst Brett Knoblauch, outlined a long-term bullish scenario for Sui and its related equity, Sui Group Holdings (SUIG).
Cantor’s analysis suggests that if Sui reaches Solana’s current market capitalization of approximately $103.8 billion, SUIG shares could exceed $49, assuming a 1.5× expansion in net asset value (mNAV). The report positions Sui as a potential “go-to blockchain for agentic AI,” suggesting that its ecosystem could power a new phase of web innovation.
The firm also highlighted that as adoption picks up, SUIG could accumulate a higher per-share stake in SUI, compounding equity returns as the blockchain’s ecosystem matures.
Sui Surpasses $20 Billion in Monthly DEX Volume
Adding further weight to Sui’s momentum, recent on-chain data shows that its decentralized exchange (DEX) volume surpassed $20 billion in October 2025 — marking the highest monthly total in its history. The milestone underscores the network’s rapid growth in trading activity and developer engagement across DeFi applications.
$SUI surpasses $20B monthly DEX volume for the first time in history. pic.twitter.com/nKNeqFOx3m
— ToreroRomero (@Torero_Romero) October 24, 2025
This performance strengthens Sui’s position among the top-performing smart contract platforms, following its emergence as a high-throughput blockchain focused on scalability and user experience.
Market Reaction and Technical Overview
Following the ETF filing, SUI’s price moved between $2.40 and $2.50 with mild upward momentum. CoinGlass data revealed that Sui futures open interest jumped 3% within an hour to $823 million, reflecting increased speculative activity. Over the past 24 hours, open interest climbed more than 7%, confirming renewed optimism among derivatives traders.
On the daily chart, SUI remains below its previous highs but has shown signs of stabilization. The RSI hovers near 36, suggesting the asset may be nearing oversold conditions, while MACD readings indicate potential for a short-term rebound if momentum continues to build.
Looking Ahead
With both institutional and on-chain indicators aligning, Sui appears to be entering a pivotal phase. The combination of 21Shares’ ETF initiative, Cantor Fitzgerald’s long-term valuation outlook, and record-breaking network activity may reinforce SUI’s position as one of the most closely watched assets heading into late 2025.
Should the SEC eventually approve the ETF, it could mark a major step toward legitimizing Sui in the eyes of traditional investors — potentially bridging the gap between blockchain innovation and mainstream capital markets.
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