Sui Network (SUI) Jumps 9% as 21Shares Files for U.S. ETF, Price Pushes Toward $4 – CryptoMode
Sui Network (SUI) surged over 9% to $3.73 after 21Shares filed with the SEC for a U.S.-based exchange-traded fund tracking the Layer-1 token.
The move comes alongside a newly announced strategic partnership between 21Shares and the Sui Foundation, the project overseeing the Sui Network, hinting at deeper institutional alignment going forward. While no U.S. exchange or ticker was specified, Coinbase is listed as a custodian —a notable vote of confidence.
This filing follows a similar proposal from Canary Capital in March, as asset managers accelerate plans to bring altcoin ETFs to U.S. markets. With Dogecoin and XRP ETF decisions delayed until June, SUI now joins the shortlist of tokens with active ETF ambitions in 2025.
Chart Structure Signals Momentum Return
SUI’s price action over the past two weeks has been explosive, rallying over 80% from mid-April lows to reclaim the $3.60–$3.70 zone. On the daily chart, SUI is trading well above its 21-day EMA ($2.95) and 200-day SMA ($3.23)—a structure that marks a full bullish reversal. RSI is extended at 77, while Stochastic Oscillator values near 88 suggest strong upside pressure with potential short-term overheat.
MACD momentum has flipped decisively positive. Volume and volatility expansion point to renewed interest across both retail and speculative desks. This is no dead cat bounce—the token has flipped prior resistance into support and is now eyeing the $4 level.
With SUI surging and trading volume topping $1.7 billion in the last 24 hours, momentum is accelerating. The token has added more than $5 billion in market cap since mid-April and now ranks just outside the global top 10.
Technically, SUI is trading 13.5% above its 200-day SMA and 23% above its 21-day EMA —levels that historically precede multi-day continuation runs in altcoin breakouts.
If ETF speculation intensifies or 21Shares expands product offerings tied to Sui’s ecosystem, the $4.00–$4.20 zone could be tested within days. With staking-enabled ETPs already live in Europe and U.S. demand heating up, SUI is rapidly evolving from L1 contender to ETF-eligible capital magnet.
In February, OKX Wallet added Sui, allowing users to trade and store SUI tokens, expanding the partnership between the exchange and the blockchain platform. Similarly, the price has been surging due to multiple other integrations. A few weeks ago, CryptoMode reported how the Sui Network launched a virtual Mastercard integration in Europe.
