SUI soars 8% as 21 Shares files spot ETF

Summary ⚈ Sui (SUI) surged 8.36% after 21Shares filed for a spot ETF. ⚈ The token is up over 16% in the past week amid market optimism. ⚈ 21Shares also partnered with Sui to boost global institutional access. Sui ( SUI ), the native token of the Sui layer-1 blockchain , experienced a dramatic rally on May 1, surging 8.36% to its press time price of $3.70. The latest move reinforced the already positive weekly performance, which ensured that the eleventh-largest cryptocurrency by market cap is up 16.32% over the last seven days of trading. While the upsurge coincided with the broader market rally that saw, for example, Bitcoin ( BTC ) hit $96,000 for the first time since the February correction, it can be directly linked to 21Shares’ latest filing with the Securities and Exchange Commission (SEC). SUI one-day price chart. Source: Finbold Why Sui is up today Specifically, the company specializing in cryptocurrency-based exchange-traded products (ETPs) submitted a request to list a spot SUI exchange-traded fund ( ETF ). The move has added to the already substantial backlog of spot digital asset ETFs awaiting the SEC’s decision in 2025. Although the latest news emerging from the regulator has seen it continue its pattern of postponement, given that it pushed the deadline for both the XRP and Dogecoin ( DOGE ) ETFs to June, hopes are high that many of the requests would be approved. The second Trump administration has inaugurated a significantly more crypto-friendly SEC, as evidenced by the deluge of probes, investigations, and lawsuits that have been dropped during the first quarter of 2025. Furthermore, Trump Media and Technologies (NASDAQ: DJT ) has entered a partnership with Crypto.com to launch cryptocurrency ETPs, signaling high-level confidence in the approvals. 21Shares partners with the Sui network In addition to filing the SUI spot ETF, 21Shares announced on May 1 that it has entered a partnership with the layer-1 network to help expand global access to it. According to the press release, the collaboration is designed to ‘produce product collaborations, research reports, and other initiatives’ and serves to highlight ‘he growth of institutional interest in the Sui ecosystem.’ Featured image via Shutterstock The post SUI soars 8% as 21 Shares files spot ETF appeared first on Finbold .