The first SUI Exchange Traded Funds (ETFs) from issuers Canary Capital and Grayscale have officially begun trading on major US exchanges.
These new ETFs, trading under the tickers SUIS on Nasdaq and GSUI on the New York Stock Exchange, are designed to offer investors exposure to the Sui layer-1 blockchain and its staking rewards. The Sui network operates on a delegated proof-of-stake consensus mechanism, allowing participants to earn rewards by validating transactions.
Grayscale highlighted that the GSUI ETF is structured to provide a convenient way for investors to gain exposure to SUI and its staking activity, facilitating access to a network built for scalable applications and next-generation digital experiences. Similarly, Canary's CEO stated the fund allows investors to benefit from net staking rewards generated through the Sui proof-of-stake mechanism.
The launch comes as the price of SUI has seen a significant decline. At the time of the initial ETF filing in March 2025, SUI was trading around $1.98. Currently, SUI is trading around $0.95, marking a substantial drawdown in line with broader cryptocurrency market trends. The network has also experienced recent operational challenges, including an extended outage last month.