Tech

SUI ETF Filing Triggers Bullish Price Prediction: Double Digits Ahead?

2 days ago
Bitcoin Ethereum News

TLDR:

  • 21Shares files for a SUI ETF on Nasdaq, signaling rising institutional interest.
  • SUI price gains 6.57% in 24 hours amid ETF buzz and bullish market sentiment.
  • Analysts predict a Wave 3 surge for SUI, potentially reaching double-digit prices.
  • On-chain data shows strong trading activity despite recent protocol-related concerns.

A new crypto ETF may soon join the Nasdaq as 21Shares files to list a SUI ETF. This marks a potential turning point in Sui’s market exposure and institutional adoption. 

While the filing shows growing confidence in blockchain investments, on-chain activity suggests rising investor interest. 

Analysts tracking SUI’s chart see signs of bullish momentum, despite recent volatility. The move reflects broader trends shaping crypto assets and ETF growth in the U.S.

21Shares Files SUI ETF Application with SEC

21Shares submitted its SEC Form S-4 filing on May 23, 2025, seeking approval for a SUI ETF on Nasdaq. 

The filing represents the company’s expansion into blockchain-specific exchange-traded products targeting U.S. investors. According to the Roundtable Network, this move aligns with 21Shares’ successful track record in European crypto ETP markets.

The proposed ETF would provide regulated exposure to Sui, a layer-1 blockchain protocol, rather than traditional equity investments. Industry observers suggest this filing could influence institutional adoption patterns in the American cryptocurrency market. 

The development follows 21Shares’ established presence in crypto investment products across European markets.

Current SUI price data from CoinGecko indicates the token trades at $3.70 with substantial 24-hour volume of $1,266,944,250. 

The price reflects a 6.57% increase in the last 24 hours, though weekly performance shows a 4.94% decline. Trading ranges span from $3.42 to $3.70 in recent sessions, with weekly support established around $3.43.

SUI Price on CoinGecko

BitGuru’s technical analysis highlights recovery potential after SUI dropped from $4.20 to its current levels. 

The analyst notes that bulls appear to be “stepping back in” following what he describes as a market shakeout. Weekly resistance remains positioned near $4.16 according to current trading patterns.

SUI Analysis Points to Potential Bullish Trajectory

CryptoBullet’s Elliott Wave analysis suggests the token completed a Wave 1 impulse from April’s low and currently undergoes corrective Wave 2 movement. 

The analyst projects that Wave 3 could drive SUI to double-digit price levels in upcoming market cycles. This technical perspective maintains optimism despite recent blockchain security concerns.

Alva’s on-chain analysis reveals high trading volumes accompanied by bullish MACD indicators, though CRSI readings suggest potential short-term profit-taking activity. 

The analyst draws parallels to Bitcoin and Ethereum ETF approvals, suggesting similar institutional adoption patterns could benefit SUI’s long-term prospects.

The asset currently ranks 12th on CoinMarketCap with an $11.58 billion market capitalization, demonstrating significant market presence. Recent blockchain incidents, including the Cetus protocol hack, reportedly affected over $200 million in assets. 

This initially pressured prices but hasn’t derailed longer-term bullish sentiment among technical analysts

Institutional ETF interest and technical recovery signals create a complex but potentially favorable environment for SUI price development. Monitoring regulatory approval processes and ecosystem developments as key catalysts for future price movements will be crucial.

 

Source: https://blockonomi.com/sui-etf-filing-triggers-bullish-price-prediction-double-digits-ahead/