SUI Set to Soar? New All-Time High Predicted for August as ETF Filing Clears Major SEC Hurdle!

Updated

July 24, 2025

Gambar SUI Set to Soar? New All-Time High Predicted for August as ETF Filing Clears Major SEC Hurdle!

Jakarta, Pintu News – The race to launch an SUI ETF has now reached an important step, after the SEC officially moved Canary Capital’s spot SUI ETF application to the “institution of process” stage.

Traders are now starting to pay attention to what impact this will have on the price movement of Sui (SUI).

Canary’s SUI ETF Moves Forward in SEC Review

The Spot SUI ETF has now officially entered the approval process after the US Securities and Exchange Commission (SEC) began the review phase of the filing submitted by Canary Funds.

The start of the official review process is an important turning point for SUI, potentially resulting in the first spot ETF for the asset.

Canary first applied for the SUI ETF in March, submitting an S-1 form shortly after registering the fund in the state of Delaware. Although the SEC had delayed its decision, this latest move marks the formal start of the approval process.

Canary’s SUI ETF is not the only one being proposed. Asset manager 21Shares has also submitted a similar proposal, which it says is part of a strategy to expand exchange-traded access to the Sui blockchain.

The company also announced a partnership with Sui network at the same time, signaling growing institutional interest in this Layer-1 protocol.

It is not yet clear whether the SEC will approve either of the SUI ETFs, but the filings appear to have raised market expectations. SUI could experience a major rally in the coming months, as institutional attention increases and open interest grows.

In addition, the SEC has also approved the Bitwise Crypto Index ETF, although it is currently in an operational suspension status. The ETF includes SUI alongside major assets such as Bitcoin , Ethereum , and XRP , further strengthening the positive sentiment towards SUI.

Technical Indicators Show Bullish Signal for SUI

Market data shows increasing confidence in the possibility of the SUI ETF being approved.

According to a report from Glassnode, SUI’s open interest (OI) in the futures market has surged to a record high of $1.2 billion, making it the crypto with the sixth largest futures OI, behind only Bitcoin, Ethereum, Solana , XRP, and Dogecoin .

This positive momentum was also reinforced by Scient crypto analysts, who noted that SUI is forming a new base level. This indicates a possible short-term consolidation before resuming its rally towards new highs in August.

Currently, SUI is trading at $3.95, well above its 200-day moving average of $2.73.

$SUI, I think we are building a base here for the next leg.

• 1D trend broken, and we are attempting a flip here above a key Supply/Demand zone.

We can go a bit higher from here, but I feel we range for here for the next week or so before making a push toward ATHs in August.… pic.twitter.com/znNB2GTt5i
— Scient (@Crypto_Scient) July 22, 2025

The relative strength index (RSI) is around the 66 level, which means there is still room for further upside before it enters technical overbought territory.

If SUI is able to convincingly break through the key resistance zone at $4.00, the next price targets that traders are monitoring are in the range of $4.20 to $5.00. If the SUI ETF is successfully approved and market sentiment remains positive, price projections could reach $5.5 to $6.

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