Grayscale has filed an S-1 to launch its own SUI ETF. The filing comes only days after 21Shares listed the first Sui-focused ETF on Nasdaq. This now sets up direct competition in a fast-moving market.
Grayscale Submits S-1 Registration Form for SUI ETF
Grayscale has filed a new S-1 registration statement with the SEC, seeking approval for what it calls the “Grayscale Sui Trust.”
In the filing, the firm described the product as a proposed SUI ETF that would let investors access the Sui ecosystem through a publicly traded vehicle.
The company said it is expanding its ETF lineup after rolling out several single-asset products this year. The new trust is meant to track the market performance of SUI, minus fees and expenses.
According to Grayscale, the goal is to offer a simple and regulated way for investors to gain exposure to SUI without handling the asset on their own.
The new filing arrives only days after 21Shares introduced the first leveraged SUI ETF in the United States.
The fund, listed on Nasdaq under the ticker TXXS, offers twice the daily exposure to SUI’s price. It does this through derivatives rather than holding the token itself.
According to 21Shares, the product is built for short-term traders looking to ride rapid market swings.
On its first day, it closed at $24.57 with more than 4,700 shares traded. It also became the first U.S.-listed ETF tied directly to the Sui blockchain.
Earlier this year, Canary Funds made its own push into the space. In July, its spot SUI fund application entered the SEC’s review queue.
The move signaled growing interest among asset managers eager to tap rising demand across the Sui network.
The Grayscale Sui Trust follows the same model as the company’s other single-asset products. However, it stands out as one of the first U.S. investment vehicles built specifically for SUI.
The trust gives investors a way to access SUI without managing wallets or handling custody themselves.
Grayscale said the shares are designed to track the price of SUI as closely as possible, offering a simple and familiar path into the ecosystem.
A Look at the Firm’s Other Recent ETF Launches
The S-1 filing comes as part of a flurry of ETF activity from Grayscale in recent weeks.
On Tuesday, the firm launched the first U.S. Chainlink ETF on the NYSE Arca, marking another step in its strategy to offer regulated access to tokens shaping the future of digital finance.
Grayscale has also expanded into other crypto products. Its DOGE ETF began trading on the NYSE on November 24.
Additionally, the company filed an S-3 to convert its existing Zcash Trust into a spot Zcash ETF. These moves highlight Grayscale’s goal to build a diverse lineup of crypto-focused products.
The filings show the firm is betting on strong investor demand for regulated exposure to digital assets.
Expert Says SUI Must Sustain Past $1.18 Support For a Run To $10
SUI is now sitting on an important support zone on the weekly chart. After weeks of selling, the price has dropped back to the $1.18 area.
This level matches the 0.618 Fibonacci zone and the long-term trendline that has held since 2023. Buyers have reacted here before, and we can see signs of interest returning again.
At the moment, SUI is trying to hold above the “Strong Support” region. If it stays above $1.18, the selling pressure may slow down and the market could form a small base.
If this support fails, the next key level is the “Last Bull Support,” which sits near the 0.786 Fibonacci area.
A drop into that zone would show weakness and could delay any recovery. But as long as SUI stays above it, the long-term trend is still in good shape.