The U.S. Securities and Exchange Commission (SEC) has commenced a formal review of Canary Capital’s application for a spot SUI exchange-traded fund (ETF), indicating active regulatory evaluation of the SUI blockchain. This procedural step underscores Canary Capital’s commitment to introducing regulated SUI investment vehicles to traditional markets.
Growing institutional interest in SUI is reflected in parallel developments, including 21Shares’ submission of its own spot SUI ETF application and SUI’s inclusion in the SEC-approved Bitwise Crypto Index Fund. Market momentum remains robust, with SUI futures open interest reaching $1.2 billion and the token’s price consistently trading above its 200-day moving average.
Analysts project potential price targets between $4.20 and $6.00 if the ETF secures approval, with the $4.00 resistance level serving as a key technical indicator. The SEC’s engagement signals a broader shift toward regulatory clarity for Layer-1 blockchain assets, potentially establishing SUI as a mainstream investment option through reduced counterparty risks and enhanced accessibility.