SUI’s ETF Journey: Can It Really Reach $10 or Is It Just Hype?

The cryptocurrency world has been buzzing with talk about exchange-traded funds (ETFs). These products allow traditional investors to gain exposure to digital assets through regulated financial markets, opening the door for billions in institutional money. Recently, SUI has become the latest blockchain project to enter this conversation, with several ETF proposals filed in 2025. Supporters believe approval could help SUI climb to $10 in the coming years, while skeptics warn that delays and regulatory uncertainty may keep prices low.

SUI is a blockchain project often described as a competitor to Solana. It focuses on high-speed, low-cost transactions and has introduced innovations such as gasless transactions and the Kiosk model for decentralized applications. These features have helped the network grow rapidly since its launch in 2023. By mid-2025, SUI had over 3.5 million active addresses, a stablecoin supply of $1.15 billion, and a growing developer community of more than 1,400 contributors. Projects such as SuiNS (a naming service) and DeepBook (a decentralized order book) have drawn interest from developers and investors alike.

The SUI ETF Filings

Between March and June 2025, several ETF proposals for SUI were submitted:

 

Filing Entity	Type	Initial Filing Date	Current Status
Canary Capital	Spot SUI ETF	March 2025	Decision delayed to July 24, 2025
Cboe BZX Exchange	19b-4 Filing to List ETF	April 2025	Pending SEC review
21Shares	Spot SUI ETF	May 2025	Decision pushed to Dec 21, 2025 (extensions possible into 2026)
Nasdaq	Spot SUI ETF	June 2025	Awaiting response

 

These filings mark an important step. If approved, they could provide institutional investors with easier access to SUI, potentially driving large inflows of capital. However, the U.S. Securities and Exchange Commission (SEC) has not yet approved any of them, with delays creating uncertainty in the market.

SUI’s price has reflected this back-and-forth regulatory environment. The token fell by 2.7% when one of the ETF delays was announced but later recovered 7% after Mysten Labs, the team behind SUI, reported constructive regulatory discussions. This resilience has impressed some analysts who see it as a sign of strong community confidence.

The SEC’s attitude toward cryptocurrency has shifted in 2025. Under Chair Paul Atkins, the regulator has taken a more cooperative approach, dropping lawsuits against Binance and softening its stance on whether many altcoins should be classified as securities. While more than 200 enforcement actions were recorded in early 2025, the second half of the year has shown signs of collaboration instead of confrontation. For SUI, this change could prove decisive. A friendlier regulatory climate increases the likelihood of ETF approvals, which in turn could accelerate adoption.

Supporters argue that if ETFs are approved, SUI could see significant growth. Institutional investors such as hedge funds, asset managers, and pension funds would gain a regulated pathway to enter the market. This could push SUI toward the much-discussed $10 target by 2026. They also point to SUI’s technical advantages. Gasless transactions and fast throughput give it an edge over networks like Solana, which has struggled with outages in the past. With a growing developer base and innovative products, SUI could capture more of the decentralized finance (DeFi) market if large amounts of capital flow in through ETFs.

Not everyone is convinced. Critics argue that ETF filings are only the first step, and actual approval could take years. Delays until late 2025 or even early 2026 are possible. Without regulatory greenlights, institutional investors may remain cautious. Another concern is competition. Solana currently dominates decentralized exchanges with an 81% market share and holds nearly $1.9 billion in DeFi total value locked (TVL). SUI’s $1 billion stablecoin supply looks promising but is still far behind Solana’s scale. Unless SUI can rapidly grow its ecosystem, it may struggle to justify higher valuations.

The coming months will determine whether SUI breaks higher or stalls.

• Optimistic case: If the Canary ETF is approved by the end of 2025 and others follow, SUI could rally toward $7 in the short term and potentially $10 by 2026. Growth in RWAs (real-world assets) and DeFi could further accelerate this move.
• Cautious case: If ETF approvals are delayed until 2026 or denied, SUI could fall back toward $4 or even $3, especially if broader market conditions weaken.

Final Outlook

SUI stands at a crossroads. Its rapid ecosystem growth, strong developer activity, and innovative features have positioned it as a serious player in the blockchain space. However, much depends on whether U.S. regulators approve spot ETFs linked to the token. If approvals come, SUI could see one of the strongest rallies in the altcoin market, potentially surpassing $10 within a year. If not, it may remain in the shadow of larger rivals like Solana. For now, investors and institutions alike are watching closely as the ETF story unfolds.