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SUI Pops Back Up After ETF Filing News, But Caution Lingers

by Drop Gorn
April 9, 2025
in Crypto, Finance, Opinion, SUI
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SUI Pops Back Up After ETF Filing News, But Caution Lingers
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  • ETF Filing Boosts SUI: Sui (SUI) saw a slight price recovery after Cboe BZX filed to list the first spot SUI ETF in the U.S., aiming to bring the token into regulated markets—with staking rewards potentially included.
  • Canary Capital Expands ETF Plans: Alongside the SUI ETF, Canary is working on more crypto ETFs (like LTC, SOL, XRP), following in the footsteps of recent Bitcoin and Ethereum ETF approvals.
  • SUI Price Still at Risk: Despite the bounce to $2.02, SUI remains technically bearish. A confirmed breakout above $2.30 could trigger a rally, but a drop below $2.00 may send it back toward $1.60 or lower.

Sui’s price finally caught a breather after getting battered last week—thanks to some fresh optimism sparked by a new ETF filing. The Cboe BZX Exchange just submitted a request to list the first-ever spot SUI ETF in the U.S., and the crypto crowd is definitely paying attention.

The filing, done through Form 19b-4 with the SEC, was enough to push SUI back up to $2.02 at the time of the announcement—just a 2% bump, but not bad considering the token had dropped over 20% in the past seven days. The move brought a bit of relief and a small spike in trading activity.

Canary Capital Wants In: SUI ETF with Staking on the Table

So, what’s the deal with this ETF? Canary Capital’s aiming to roll out what it’s calling the Canary SUI ETF—a spot ETF that would directly track the price of SUI. If approved, it’ll trade on the Cboe BZX Exchange.

One interesting piece? The fund may actually stake some of its SUI. According to the filing, “The Sponsor may stake, or cause to be staked, all or a portion of the Trust’s SUI through one or more trusted staking providers.” So, in theory, staking rewards could be treated like income for the fund. But—and here’s the fine print—it won’t get involved in any forks or airdrops.

This filing comes shortly after Canary set up a Delaware-based trust to back the product, and also filed a registration statement in March. It’s clear the firm’s laying groundwork for a whole ecosystem of crypto ETFs.

$SUI | $USDT

Heavy turbulence in the market we dropped below $1.955 and crashed to $1.75.

SUI has now recovered to $2.06, but a bit more turbulence is still expected, Hoping to see that one golden reversal. pic.twitter.com/lnXQ6zNzwn

— Elite Crypto (@TheEliteCrypto) April 8, 2025

Canary’s Broader ETF Ambitions

This SUI proposal is riding the coattails of the recently approved spot Bitcoin and Ethereum ETFs. Cboe BZX says they’re sticking to the same regulatory playbook—claiming the SUI ETF meets all the SEC’s key criteria, especially the ones about fraud prevention and investor protection.

Oh, and Canary isn’t stopping with SUI. They’re cooking up ETF products linked to Litecoin, XRP, Solana, and even Hedera. Their Litecoin ETF (ticker: LTCC) already popped up in the DTCC database, signaling more launches could be just around the corner.

SUI Price: Rebound or Just a Dead Cat Bounce?

Now let’s talk price action.

SUI has been sliding steadily since peaking near $2.84 earlier this year. It’s been stuck in a descending channel—lower highs, lower lows, classic bearish structure. Key support zones are sitting at $1.80, $1.60, and $1.30.

Right now, the token’s testing the $2.00 level, which is kind of a psychological “line in the sand.” If bulls can manage a breakout above that downtrend line around $2.20–$2.30, it could be game on for a run toward $2.50 or even $2.80.

But if SUI can’t stay above $2.00? It might drop back to $1.80 or worse.

Traders are keeping an eye out for a higher low—something that might suggest a reversal’s brewing. But until we see a strong breakout, this thing’s still looking more neutral-to-bearish than bullish.

Tags: $SUiETFhederaLitecoinSolanaSui Networkxrp
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