The SUI value is displaying indicators of a breakout as cryptocurrency ETP supplier 21Shares made a serious announcement concerning a SUI ETF. The firm’s newest submitting with the Securities and Exchange Commission (SEC) for an SUI exchange-traded fund within the United States has pushed the coin’s value excessive as we speak.
21Shares information for SUI ETF amid US growth
According to the corporate’s announcement, this submitting is “a first step in expanding exchange-traded access to SUI.” The information comes alongside a newly fashioned partnership between 21Shares and the Sui blockchain community. Institutional curiosity is driving the growth of the Layer-1 protocol’s international attain.
21Shares has fashioned 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 companies 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
Materials offered herein are meant solely for instructional functions solely. These supplies shouldn’t be construed as… pic.twitter.com/dgFpgybwSZ
— 21Shares US (@21shares_us) May 1, 2025
“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” mentioned Duncan Moir, President of 21Shares. The firm acknowledged that its choice to pursue Sui merchandise relies on each conviction within the know-how and rising investor demand.
The partnership will embrace product collaborations, analysis reviews, 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 become the global coordination layer for digital assets.”
SUI value eyes breakout at key resistance degree
The SUI price has proven sturdy value efficiency amid the ETF submitting information, with an 11% surge within the final 24 hours. This current bounce provides to its 56% achieve over the previous 30 days and roughly 230% improve during the last yr.
Technical evaluation from crypto analyst Ted suggests SUI is approaching a important value 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 making an attempt one other breakout.
$SUI is approaching a key resistance degree.
Last time it received rejected from the $3.8-$4 zone, and it is making an attempt one other breakout.
If SUI manages to interrupt above $4, it might 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 “could soon hit a new ATH.” The value chart reveals an upward trendline that has been supporting the value since late April. CoinGape has additionally launched its price prediction for SUI, which reveals a 49% bullish prediction.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with almost 7 years of expertise within the cryptocurrency trade. He has contributed to quite a few publications, together with WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
