Asset manager Canary Capital has taken a crucial step toward launching an exchange-traded fund (ETF) for SUI, filing paperwork with the Delaware court. This move has fueled speculation that a spot ETF filing could soon follow, sending SUI prices up 3% despite an overall market downturn. Adding to the bullish momentum, SUI’s recent partnership with Donald Trump’s DeFi venture, World Liberty Financial (WLFI), has driven analysts to set ambitious price targets for the altcoin.
SUI Price Aims for $7.2 Amid Bullish Sentiment
After peaking at $3.5 in February, SUI underwent a market-wide correction, dipping below $2.5 earlier this week. However, the altcoin has rebounded strongly, now trading around $2.8. Coinglass data shows a 12.11% surge in open interest to $649 million, reflecting growing confidence in SUI’s bullish trajectory.
According to market analyst Solberg Invest, SUI’s latest pullback is testing a crucial support level while maintaining its long-term uptrend. If this support holds, analysts predict a strong recovery that could push prices toward $7.2 and beyond.
Spot SUI ETF on the Horizon?
Canary Capital’s recent filing in Delaware marks a preliminary step in obtaining regulatory approval for a SUI-based ETF. If greenlit by the U.S. Securities and Exchange Commission (SEC), the ETF would provide institutional investors with direct exposure to SUI, potentially unlocking new demand.
Co-founder Eman Abio expressed optimism about the development, calling for broader acceptance of crypto ETFs. Asset managers are currently seeking ETF approvals for various digital assets, with Grayscale recently applying for a Hedera ETF listing on Nasdaq. Other ongoing filings include ETFs for Litecoin, Solana, and XRP, signaling growing institutional interest in the crypto sector.
Yes, ETF(s) soon.
— Adeniyi.sui (@EmanAbio) March 4, 2025
Strategic Partnership with World Liberty Financial
On Thursday, WLFI announced a partnership with Sui to establish a strategic reserve for the altcoin. This collaboration aims to enhance Sui’s ecosystem by integrating it into WLFI’s financial framework.
Evan Cheng, a founding contributor to Sui, emphasized the partnership’s significance, stating that it aligns with the shared vision of decentralization and financial empowerment. Cheng believes that the synergy between Sui’s cutting-edge blockchain technology and WLFI’s ambitions could revolutionize asset management and ownership.
Also Read: SUI Token Nears Breakout: Surging Trading Volume and Key Resistance Levels in Focus
With institutional demand rising and new strategic alliances forming, SUI is positioning itself for a strong recovery, potentially setting the stage for a new price rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
