Sui, a competitor to Solana
Sui, a competitor to Solana 
$ 148, experienced a brief price increase following the announcement of 21Shares’ spot Sui ETF application. Prior to the announcement, the cryptocurrency asset was trading at approximately $3.56, but surged to $3.75 within a few hours before settling back down to around $3.57.
SUI ETF Application
21Shares has submitted the necessary application for a spot ETF it plans to offer for Sui. The approval process for this application lies with the U.S. Securities and Exchange Commission (SEC). Similarly, the crypto asset manager Canary Capital has also applied for a Sui ETF.
A comprehensive decision on these applications is expected to be seen possibly by November 2025.
Other Developments in the Sector
The SEC is evaluating various crypto-based exchange-traded fund applications. The regulatory body has previously approved ETFs for Bitcoin 
$ 96,858 and Ethereum 
$ 1,842 in spot markets and is known to be reviewing nearly 70 ETF applications. This development signals an increase in investor demand within the sector, as numerous companies strive for ETF applications and internal crypto services.
Relevant authorities have stated that while assessing Sui’s ETF application, they are closely monitoring market movements.
Duncan Moir, President of 21Shares: “Since our initial research, we’ve believed Sui could be an exciting blockchain, and we are witnessing this materialize.”
Market observers have indicated that this development, reflecting the growing demand from investors, has positively influenced interest in Sui.
Recent movements show that Sui’s future valuation will shape up according to regulatory approval processes and investor interest in the market. These developments are among the elements that institutions and investors need to carefully monitor for potential decisions.