The first official Spot SUI crypto ETF filing may be fast approaching, after a “Canary Sui ETF” entity appeared on Delaware’s registration portal this week. Delaware’s official registration portal shows that “Canary Sui SUI ETF” was registered on Thursday, March 6. This is usually a bright signal that an asset/fund manager is preparing an official S-1 registration for an ETF with the SEC.
Canary Capitol is also seeking to launch ETFs that track Hedera, Litecoin, XRP and Solana. While they haven’t yet confirmed the filing of this Canary SUI ETF, it is a promising sign for interested investors. Additionally, SUI is already in the news, with US President Donald Trump’s World Liberty Financial (WLFI) officially partnering with the SUI Network. According to the layer 1 blockchain, both sides are already working to explore “different product development opportunities” for the collaboration. Moreover, WLFI is eyeing the inclusion of SUI in its “strategic token reserve designed to bolster leading projects.”
SUI is well-positioned to reach a $10 billion market cap, driven by strong institutional adoption and ecosystem expansion, according to some analysts. Last week, the asset attracting over $10 million in inflows, performing well amid a market downturn. While it seems like that down spell has caught up to SUI, there are still rumblings about it being one of a few altcoins that could see huge gains this Spring.
How Will a SUI ETF Affect the Altcoin’s Price?
SUI is already forecast to surge over 400% in the coming months as altcoin season begins. A SUI ETF launch would certainly boost that even further, similar to how Bitcoin and Ethereum climbed following their ETF approvals.
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Analysts at CoinCodex predict that the SUI cryptocurrency will hit a new high of $5.53 this March. However, the asset could hit an even higher record of $ 12.89 this April. That kind of surge would mark an ROI of a whopping 385.30% from current prices. Sui’s derivatives market activity further supports its bullish outlook. While open interest has dipped 2.63% to $583.44 million, the long/short ratios remain firmly bullish, with OKX at 3.07 and Binance SUI/USDT at 2.8052, showing a strong preference for long positions. In addition, technical projections also highlight the optimism, with analysts suggesting SUI could reach $6 in the next three weeks.
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