Key Insights
- Grayscale filed an S-1 to launch its personal SUI ETF.
- Within the submitting, the agency described the product as a proposed SUI ETF that will let traders entry the Sui ecosystem via a publicly traded automobile.
- On Tuesday, the agency launched the primary U.S. Chainlink ETF on the NYSE Arca.
Grayscale has filed an S-1 to launch its personal SUI ETF. The submitting comes solely days after 21Shares listed the primary Sui-focused ETF on Nasdaq. This now units up direct competitors in a fast-moving market.
Grayscale Submits S-1 Registration Type for SUI ETF
Grayscale has filed a new S-1 registration assertion with the SEC, in search of approval for what it calls the “Grayscale Sui Belief.”
Within the submitting, the agency described the product as a proposed SUI ETF that will let traders entry the Sui ecosystem via a publicly traded automobile.
The corporate mentioned it’s increasing its ETF lineup after rolling out a number of single-asset merchandise this yr. The brand new belief is supposed to trace the market efficiency of SUI, minus charges and bills.
Based on Grayscale, the objective is to supply a easy and controlled manner for traders to achieve publicity to SUI with out dealing with the asset on their very own.
The brand new submitting arrives solely days after 21Shares launched the primary leveraged SUI ETF in the US.
The fund, listed on Nasdaq below the ticker TXXS, provides twice the every day publicity to SUI’s value. It does this via derivatives somewhat than holding the token itself.
Based on 21Shares, the product is constructed for short-term merchants seeking to journey fast market swings.
On its first day, it closed at $24.57 with greater than 4,700 shares traded. It additionally turned the primary U.S.-listed ETF tied on to the Sui blockchain.
Earlier this yr, Canary Funds made its personal push into the house. In July, its spot SUI fund utility entered the SEC’s assessment queue.
The transfer signaled rising curiosity amongst asset managers desperate to faucet rising demand throughout the Sui community.
The Grayscale Sui Belief follows the identical mannequin as the corporate’s different single-asset merchandise. Nevertheless, it stands out as one of many first U.S. funding autos constructed particularly for SUI.
The belief provides traders a option to entry SUI with out managing wallets or dealing with custody themselves.
Grayscale mentioned the shares are designed to trace the worth of SUI as carefully as potential, providing a easy and acquainted path into the ecosystem.
A Have a look at the Agency’s Different Latest ETF Launches
The S-1 submitting comes as a part of a flurry of ETF exercise from Grayscale in current weeks.
On Tuesday, the firm launched the first U.S. Chainlink ETF on the NYSE Arca, marking one other step in its technique to supply regulated entry to tokens shaping the way forward for digital finance.
Grayscale has additionally expanded into different crypto merchandise. Its DOGE ETF started buying and selling on the NYSE on November 24.
Moreover, the corporate filed an S-3 to transform its current Zcash Belief into a spot Zcash ETF. These strikes spotlight Grayscale’s objective to construct a various lineup of crypto-focused merchandise.
The filings present the agency is betting on sturdy investor demand for regulated publicity to digital property.
Professional Says SUI Should Maintain Previous $1.18 Help For a Run To $10
SUI is now sitting on an important support zone on the weekly chart. After weeks of promoting, the worth has dropped again to the $1.18 space.
This stage matches the 0.618 Fibonacci zone and the long-term trendline that has held since 2023. Consumers have reacted right here earlier than, and we will see indicators of curiosity returning once more.
In the meanwhile, SUI is attempting to carry above the “Strong Help” area. If it stays above $1.18, the promoting strain might decelerate and the market may type a small base.
If this help fails, the following key stage is the “Final Bull Help,” which sits close to the 0.786 Fibonacci space.
A drop into that zone would present weak point and will delay any restoration. However so long as SUI stays above it, the long-term pattern continues to be in fine condition.
The submit Grayscale Files S-1 for a SUI ETF After 21Shares’ Strong Debut appeared first on The Coin Republic.
