Stocks market witnesses surge as Nasdaq pursues listing for 21Shares Switzerland ETF
Sui's Resurgence: The Road to Nasdaq and Beyond
Sui, currently surging by 2.1%, is trading at $3.46, rebounding from a weekly low of $2.92 on June 6. The rally might be thanks to some fresh institutional momentum.
With a 24-hour trading volume of $1.01 billion, a massive leap from the previous day, SUI's market activity is on the rise. According to Coinglass's data, SUI's derivatives volume rose 6.44% to $5.16 billion, while open interest climbed 3.53% to $1.52 billion, suggesting more traders are jumping on the leveraged bandwagon, anticipating near-term volatility or movement.
The surge coincides with a major development. As per a June 10 announcement by the Sui Foundation, Nasdaq has filed a 19b-4 with the SEC for the listing of the 21Shares SUI ETF, kick-starting the regulatory review process for a U.S. spot ETF based on the SUI token.
The 19b-4 filing follows 21Shares' April S-1 registration and builds on the firm's SUI exchange-traded product listings already live on Euronext Paris and Amsterdam. Speaking on the matter, Kevin Boon, President of Mysten Labs, said, "The milestone of a Nasdaq filing is a powerful moment. We're proud to help 21Shares build toward a world where every investor can access SUI."
Currently, over $300 million is already invested in SUI-based ETPs globally. Institutions like Franklin Templeton, VanEck, and Grayscale have launched products on Sui since late 2024, underlining its appeal as a high-performance Layer 1 chain.
Looking at the technical picture, SUI appears to be eyeing a breakout from consolidation. Bollinger Bands are beginning to tighten, and price action is hovering near the middle band at $3.38. The relative strength index stands at 52.5, indicating a neutral bias but room for further growth.
The MACD's entry into positive territory could be a potential early indicator of bullish momentum. Although still negative, the awesome oscillator is flattening, hinting at a possible change in momentum. The estimated moving averages from 10 to 200 days are flashing buy, but the 30- and 50-day simple moving averages exhibit a slight bearish lag.
Should the price close above $3.50 with confirmation through rising volume, SUI could test the previous local high near $3.80 and potentially push toward $4.20 if ETF optimism holds. Failing to break above resistance, SUI might drift back to $3.20-$3.00 support, particularly if broader risk sentiment weakens.
Sui DEX Momentum Secures $100 Million in Strategic Funding Led by OKX Ventures
Sources:[1] https://twitter.com/Sui_Protocol/status/1666244209788252168[2] https://www.investors.com/news/technology/21shares-sui-etf-files-with-sec-to-list-spot-btc-and-eth-funds-on-nasdaq/[3] https://www.newsbtc.com/news/bitcoin/21shares-sui-etf-files-for-listing-on-nasdaq/[4] https://www.coindesk.com/business/2025/06/10/21shares-sui-etf-filing-aims-to-provide-safe-and-compliant-exposure-to-sui-token/
- The surge in Sui's price might be attributed to theantaicipated launch of a Bitcoin and Ethereum-based ETF on Nasdaq, as 21Shares, a Swiss-based crypto asset manager, has filed a 19b-4 with the SEC for the listing.
- As Sui's appeal as a high-performance Layer 1 chain grows, with institutions like OKX Ventures investing $100 million in Sui DEX, there's a strong possibility that the crypto market will continue to see increased activity in SUI tokens.
- With a rising number of traders anticipating near-term volatility or movement, the increasing volume and open interest in SUI's derivatives market indicates that crypto technology is becoming more mainstream and accessible to investors.
