Sui Token Set for Major Surge Following Nasdaq ETF Proposal

Nasdaq has submitted a proposal to the SEC for listing a 21Shares spot Sui ETF, driving potential market growth.

The proposal marks a significant step towards legitimizing altcoin ETFs in the U.S., with Sui showing positive market momentum.

Nasdaq’s 19b-4 form for a 21Shares Sui ETF marks the initial regulatory move, potentially allowing institutional investment in Sui. This is notable for the cryptocurrency market.

The proposal, led by Nasdaq’s Senior Associate Sun Kim, draws parallels to Bitcoin and Ethereum’s previous ETF launches. Institutional custodians may include BitGo and Coinbase Custody. “The submission of the ETF proposal represents a critical regulatory step in the approval process,” said Sun Kim, Nasdaq’s Senior Associate General Counsel.

Following the filing, the Sui token’s trading price surged by 8%. This suggests investor confidence, with a notable increase in its 24-hour trading volume and market cap.

The potential ETF could enhance Sui’s financial visibility, attracting new investors while setting a regulatory benchmark for similar altcoin products.

The situation resembles the impact observed when Bitcoin and Ethereum ETFs were introduced, which drove significant price increases and institutional interest.

If approved, analysts suggest potential doubling of Sui’s value to $5.00, aligning with historical trends of regulated investment products boosting underlying assets.