Grayscale Amends Sui ETF Application, Boosting SUI Price by 7%
- Grayscale submitted Amendment No. 2 to its spot Sui ETF application with the U.S. SEC.
- SUI price surged over 7%, trading near $0.95, with a low of $0.877 and a high of $0.956 in the last 24 hours.
- Trading volume for SUI increased by nearly 45%, indicating heightened investor interest.
- The total open interest in SUI futures rose by approximately 5% to $524 million within the same period.
- Coinbase is designated as the prime broker and custodian for the Grayscale Sui Staking ETF, which will trade under the GSUI ticker on NYSE Arca.
Grayscale’s amendment aims to transition its existing trust into a spot ETF focused on SUI, reflecting significant progress towards launching this financial product. The developments have positively impacted market sentiment, as evidenced by the notable price increase and trading activity surrounding SUI.
With SUI’s price rising over seven percent and futures open interest climbing to $524 million, investor enthusiasm is evident following Grayscale’s recent filing updates.(Source)
