Sui ETF Inches Toward Approval After Grayscale Updates SEC S-1

Grayscale has taken another step toward launching the first spot Sui ETF in the United States. The company has amended its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).

Moreover, the update strengthens expectations that a spot Sui ETF could reach the market, especially as other issuers line up with similar filings.

Grayscale Details Staking, Structure, and Key Partners

According to the latest SEC filing, Grayscale submitted Amendment No. 1 to its S-1 for its proposed Sui ETF, signaling ongoing engagement with regulators. If approved, the product will give investors direct exposure to the price of SUI while also generating yield through on-chain staking.

In the amended filing, Grayscale expanded disclosures around staking mechanics, regulatory considerations, and risk factors tied to the Sui network and digital asset markets. However, the firm has not yet disclosed critical details such as management fees, potential fee waivers, or the identity of the staking provider.

Grayscale also confirmed plans to rename the product the Grayscale Sui Staking ETF and list it on NYSE Arca under the ticker GSUI. Currently, shares of the Grayscale Sui Trust trade on the OTCQB market.

Additionally, Bank of New York Mellon will act as both administrator and transfer agent, while Coinbase will serve as prime broker, with Coinbase Custody Trust Company named as custodian.

Market Reaction and Broader ETF Momentum

Grayscale’s move comes as competition heats up. Bitwise and Canary Capital have also submitted filings for Sui-related ETFs, increasing pressure on the SEC to address spot Sui products. The filings follow the commission’s recent approval of multiple altcoin ETFs tied to assets such as XRP, DOGE, and SOL, reinforcing optimism across the market.

Notably, SUI currently trades around $1.44, giving the token a market capitalization of roughly $5.46 billion. Network activity remains strong, with about 616,000 daily active users and 4.3 million transactions per day.

Still, near-term risks remain. Trading volume has dropped 32% over the past 24 hours, and a scheduled 54 million token unlock worth nearly $80 million next week could add selling pressure.

Despite this, derivatives data points to renewed speculative interest. According to CoinGlass, SUI futures open interest jumped 7.3% to $728.66 million in the last 24 hours, suggesting traders continue to position for a potential ETF-driven rebound.

The post Sui ETF Inches Toward Approval After Grayscale Updates SEC S-1 appeared first on CoinTab News.