SUI price surges 8.36% to $3.70 as 21Shares files to list a spot ETF

The latest move reinforced the already positive weekly performance, which ensured that the eleventh-largest cryptocurrency by market cap is up 16.32%

The price of Sui (SUI) experienced a significant rally on May 1, rising 8.36% to its press time value of $3.70.

The latest move ensured that the eleventh-largest cryptocurrency is now up 16.32% over the last seven days of trading.

The upsurge can be directly linked to 21Shares’ latest filing with the Securities and Exchange Commission (SEC). Specifically, the company specializing in cryptocurrency-based exchange-traded products (ETPs) submitted a request to list a spot SUI exchange-traded fund (ETF).

The latest filing adds to the already substantial backlog of spot digital asset ETFs awaiting the SEC’s decision in 2025. Although the latest news emerging from the regulator has seen it continue its pattern of postponement – given that it pushed the deadline for both the XRP and Dogecoin (DOGE) ETFs to June – hopes are high that many of the requests would be approved.

The second Trump administration has seen the installment of a significantly more crypto-friendly SEC, as evidenced by the deluge of probes, investigations, and lawsuits that have been dropped during the first quarter of 2025. Furthermore, Trump Media and Technologies (NASDAQ: DJT) has entered a partnership with Crypto.com to launch cryptocurrency ETPs, demonstrating high-level confidence in the approvals.

In addition to filing the SUI spot ETF, 21Shares announced on May 1 that it has partnered with the layer-1 network to expand global access to it.

According to a press release, the collaboration will "produce product collaborations, research reports, and other initiatives" and serves to highlight "the growth of institutional interest in the Sui ecosystem."