 
 
On Wednesday, two spot SUI exchange-traded funds (ETFs) went reside on main U.S. exchanges, giving traders direct publicity to the token’s value whereas additionally enabling them to seize staking rewards.
Grayscale And Canary Capital SUI ETFs Hit US Market
Grayscale Investments rolled out its SUI ETF on Feb. 18, changing its closed-end belief right into a spot fund. The Grayscale SUI Staking ETF trades on NYSE Arca beneath the ticker image GSUI.
Working as a passive funding automobile, the fund seeks to reflect the worth of SUI it holds, together with any extra SUI earned via staking as soon as eligibility necessities are glad.
The ETF carries an annual administration charge of 0.35%, although Grayscale is waiving this charge for the primary three months or till the fund’s belongings beneath administration attain $1 billion.
Krista Lynch, Grayscale’s SVP of ETF Capital Markets, mentioned that the launch of GSUI represents a milestone in bringing exchange-traded entry to the Sui ecosystem.
 
“GSUI is structured to supply traders with publicity to SUI and its staking exercise via an ETP, providing a handy strategy to achieve publicity to a community designed for scalable, real-world purposes,” Lynch famous.
SUI, a decentralized layer-1 blockchain designed for speedy sensible contract deployment, was launched by Mysten Labs in 2023 as a so-called “Solana Killer”. The blockchain’s native cryptocurrency is used to cowl transaction charges and assist different community features. In line with CoinGecko, SUI presently ranks thirty first on the crypto leaderboard with a $3.7 billion market capitalization.
In the meantime, the Canary Stake SUI ETF is now buying and selling on the Nasdaq change beneath the ticker image SUIS. Similar to Grayscale’s ETF, Canary Capital’s SUI ETF additionally provides traders staking publicity by way of the blockchain’s proof-of-stake mechanism.
“The Canary Staked SUI spot ETF (SUIS) brings publicity to SUI in a registered, exchange-traded construction, whereas additionally enabling traders to profit from internet stalking rewards generated via SUI’s proof-of-stake mechanism,” Canary CEO Steven McClurg mentioned in an announcement.
The Sui community operates on a delegated proof-of-stake mannequin, permitting token holders to delegate their belongings to validators that course of and ensure transactions. Traditionally, staking yields have averaged between 1.7% and 1.9% per 12 months after charges.
SUI is buying and selling at $0.9473 after slipping roughly 2.7% during the last 24 hours, in keeping with information from CoinGecko. The token has confronted sustained promoting strain alongside the broader crypto market, which has seen complete world market capitalization decline to $2.38 trillion. Over the previous 30 days, SUI has fallen by circa 39.8%, reflecting the broader market downturn.
