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On March 6, the Canary Sui ETF entity was officially registered on the Delaware portal, sending waves of excitement through the crypto community. This move by Canary Capital strongly suggests that a S-1 filing with the U.S. Securities and Exchange Commission (SEC) is in the works—an essential step toward the creation of a U.S.-based Sui (SUI) Spot Exchange Traded Fund (ETF).

And as expected, SUI holders reacted enthusiastically—with the price skyrocketing in response.

SUI Price Shoots Up

Following the news, SUI’s price soared from $2.60 to a local high of $2.94 on March 6, marking a 13% surge within hours. While the registration alone doesn’t guarantee an ETF application with the SEC, the price action shows that investors are already celebrating like it’s a done deal.

However, today’s price momentum has cooled slightly, with SUI now settling at $2.84. In general, crypto investors remain bullish on Spot ETFs for altcoins, as these funds open doors for traditional and institutional investors. Just look at Bitcoin (BTC)—it had the most successful ETF launch in history, already attracting billions in inflows.

First step towards SUI ETF completed – price jumped, but it didn't last — source: TradingView

Sui Announces New Partnership

But wait—there’s more! The March 6 rally wasn’t just about the ETF registration. The Sui network also grabbed headlines after announcing a partnership with World Liberty Financial (WLFI)—a crypto project linked to Donald Trump.

What exactly this partnership entails? That remains a mystery for now. But one thing’s for sure—the crypto market loves anything associated with Trump, and this news only fueled the hype around SUI.

Altcoin ETFs: The New Trend?

SUI isn’t the only altcoin vying for an ETF in the U.S.. With Donald Trump back in the White House and his pro-crypto stance, applications for crypto spot ETFs have been piling up.

Even Dogecoin (DOGE), the king of meme coins, has filed for its own ETF. Meanwhile, Litecoin (LTC) is one step closer to an ETF approval, with Canary Capital submitting an application in late January.

Solana (SOL) is another strong contender, with multiple ETF applications from big asset managers like Bitwise and VanEck. Other altcoins in the ETF race include XRP, Polkadot (DOT), and Hedera (HBAR). And just this past Tuesday, Axelar (AXL) entered the competition with a Canary Capital-backed ETF application.

What’s Next?

With ETF fever spreading across the crypto space, it’s only a matter of time before more altcoins get their shot at a regulated investment vehicle. If SUI’s early price surge is anything to go by, an actual ETF filing could send it soaring even higher.

🚀 Will SUI be the next big ETF success story? Stay tuned! 🚀

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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