Sui's price stayed steady above $0.97 on Wednesday, trading at $0.978 with a 0.79% gain in the past 24 hours. The token posted a 10% weekly increase, signaling a shift toward bullish sentiment ahead of Grayscale's upcoming staking ETF launch.
GSUI ETF Details: Launching Feb 18 with Fee Waiver
Grayscale Investments officially confirmed that its Sui Staking ETF will trade under the ticker GSUI on NYSE Arca starting February 18. The ETF offers regulated exposure to SUI and allows investors to earn staking rewards. An 8-A filing with the SEC triggered auto-effective approval. The management fee is set at 0.35%, but Grayscale will waive it for the first three months, targeting $1 billion in assets under management before charging. This structure is designed to attract institutional inflows.
Resistance at $1.20: RSI at Neutral-Bullish 52
SUI changed hands near $0.9794, up 0.30% intraday. After testing support around $1.00 and bouncing, the token now faces stiff resistance at the $1.20 level, where sellers previously emerged. The Relative Strength Index sits at 52, indicating moderate bullish momentum without overbought conditions. A sustained break above $1.20 could open the path to $1.50, while a drop below $0.90 would suggest a bearish reversal. Support at $0.98 remains critical.
Open Interest Rises as ETF Nears Debut
Market participants are showing increased activity: SUI open interest climbed 0.82% to $512.65 million. The upcoming ETF launch appears to be driving fresh capital into the asset. Grayscale's move provides a regulated vehicle for institutional players to gain staking exposure, potentially boosting long-term demand for SUI.