The SUI worth is exhibiting indicators of a breakout as cryptocurrency ETP supplier 21Shares made a serious announcement concerning a SUI ETF. The corporate’s newest submitting with the Securities and Trade Fee (SEC) for an SUI exchange-traded fund in america has pushed the coin’s worth excessive at present.
21Shares recordsdata for SUI ETF amid US growth
In response to the corporate’s announcement, this submitting is “a primary step in increasing exchange-traded entry to SUI.” The information comes alongside a newly shaped partnership between 21Shares and the Sui blockchain community. Institutional curiosity is driving the growth of the Layer-1 protocol’s world attain.
21Shares has shaped a partnership with the Sui blockchain community whereas concurrently submitting for a SUI ETF with the SEC. The Switzerland-based firm, headquartered in Zurich, is increasing its focus to the U.S. market after constructing an in depth suite of digital asset providers throughout Europe.
We’ve filed with the SEC for a SUI ETF within the U.S. — a primary step in increasing exchange-traded entry to SUI.@SuiNetwork https://t.co/06X49EaiFN
Supplies offered herein are meant solely for academic functions solely. These supplies shouldn’t be construed as… pic.twitter.com/dgFpgybwSZ
— 21Shares US (@21shares_us) May 1, 2025
“Since our earliest analysis into Sui, we believed it may turn out to be one of the vital thrilling blockchains within the trade, and we’re seeing that thesis play out,” mentioned Duncan Moir, President of 21Shares. The corporate acknowledged that its determination to pursue Sui merchandise is predicated on each conviction within the know-how and rising investor demand.
The partnership will embody product collaborations, analysis experiences, and different initiatives designed to extend accessibility to the Sui ecosystem. Kevin Boon, President at Mysten Labs, the unique contributor to Sui, acknowledged that “Sui was designed to turn out to be the worldwide coordination layer for digital property.”
SUI worth eyes breakout at key resistance degree
The SUI price has proven sturdy worth efficiency amid the ETF submitting information, with an 11% surge within the final 24 hours. This current soar provides to its 56% achieve over the previous 30 days and roughly 230% improve over the past 12 months.
Technical evaluation from crypto analyst Ted suggests SUI is approaching a crucial worth level. He talked about that SUI is approaching a key resistance degree. Ted mentioned that the $3.8-$4 zone was rejected final time, and it’s now trying one other breakout.
$SUI is approaching a key resistance degree.
Final time it bought rejected from the $3.8-$4 zone, and it's trying one other breakout.
If SUI manages to interrupt above $4, it may quickly hit a brand new ATH. pic.twitter.com/cGOVKjTUyC
— Ted (@TedPillows) May 1, 2025
If SUI efficiently breaks above the $4 mark, Ted suggests it “may quickly hit a brand new ATH.” The worth chart exhibits an upward trendline that has been supporting the worth since late April. CoinGape has additionally launched its price prediction for SUI, which exhibits a 49% bullish prediction.
The publish SUI Price Eyes Breakout As 21Shares Files For Sui ETF appeared first on CoinGape.