Grayscale Files for SUI ETF Launch

Grayscale Investments, one of the largest players in the crypto-asset market, has filed Form S-1 with the U.S. Securities and Exchange Commission (SEC) to launch the Grayscale Sui Trust – a spot ETF based on the SUI token of the Sui blockchain. This move comes just a few days after the debut of a similar ETF from 21Shares on the Nasdaq exchange, indicating growing institutional investor interest in alternative cryptocurrencies beyond Bitcoin and Ethereum. Grayscale, which already manages billions of dollars in assets, continues to expand its portfolio, betting on promising Layer-1 solutions like Sui, known for its high transaction speed and focus on DeFi.

According to official documents published on the SEC website, the Grayscale Sui Trust (ticker GSUI) is designed to provide direct access to the SUI token without the need for direct asset management. The fund aims to reflect the market performance of SUI minus fees, offering investors a regulated and convenient investment tool. This is particularly relevant for long-term investors seeking to avoid the complexities associated with storing cryptocurrency, such as wallet management or hacking risks. The S-1 filing is the first step in the approval process, which may take several months, but it already signals Grayscale's confidence in Sui's potential. The company notes that the Sui Network, founded by former Meta engineers, uses an innovative object-oriented consensus mechanism that enables processing thousands of transactions per second with low fees.

Grayscale's filing follows the successful launch of the 21Shares Sui Staking ETP (ticker CSUI) on December 3, 2025, which became the first SUI-based ETF in the US. Analysts note that competition between Grayscale and 21Shares could accelerate the approval and implementation of similar products, strengthening Sui's position in the Layer-1 blockchain market. Earlier in 2025, Canary Capital also filed for a SUI ETF, and the SEC approved the first 2x leveraged ETF from Defiance ETFs (ticker TXXS), highlighting the trend toward diversification of crypto-ETFs. Sui, known for its high throughput – up to 297,000 transactions per second in test mode and focus on DeFi, Web3 applications, and gaming, is already showing growth: over the last 24 hours, the SUI token is trading at around $1.54 with a trading volume of $1.26 billion, and the TVL in the ecosystem exceeds $1.76 billion. The Sui blockchain was launched in 2023, and since then it has attracted attention through partnerships with Google and integrations with Bitcoin via Merlin Chain, allowing BTC assets to be used in the Sui ecosystem.

Experts predict that approval of the SUI ETF could serve as a catalyst for token price growth. Some analysts, such as those from AMBCrypto and Coinpedia, suggest a potential breakthrough to $7-10 in 2025 if institutional investments gain momentum and the cryptocurrency market remains bullish. Factors like adding SUI to the Bitwise 10 Crypto Index Vanguard and availability on Coinbase NY have already contributed to trading volumes reaching $2 billion per day. However, risks include SEC regulatory delays, macroeconomic factors, and competition from Solana, which has similar characteristics. If the ETF is approved, it could bring in $100 million in inflows in the first months, similar to the effect of Bitcoin ETFs in 2024.

Amid these developments, the Sui community is actively discussing the news on social media. For example, on the X platform, user like @coinbureau note that this is a "race for Sui products," which could accelerate technology adoption and propel SUI into the top-10 cryptocurrencies. Posters emphasize that Grayscale's filing is a signal of a shift from speculation to institutional adoption, with comments like "Institutions ALL IN on SUI" and predictions of a "moonshot" in price. Grayscale, which already manages billions in Bitcoin and Ethereum ETFs, continues to expand its portfolio, including Sui alongside others like the Grayscale Bitcoin Trust ETF, making it a leader in the crypto-ETF segment.

This development underscores a broader trend in the crypto industry: altcoins like SUI are gaining attention from major players, which could lead to mass adoption. Investors should monitor SEC updates, as the decision could impact not only SUI but the entire Layer-1 blockchain sector, stimulating innovation and capital inflow. Given the current market context, where Bitcoin holds above $90,000, SUI has potential for significant growth, but with the volatility typical of crypto-assets.