- The first Sui exchange-traded funds from Canary Capital (SUIS) and Grayscale (GSUI) began trading Wednesday on the Nasdaq and NYSE, respectively.
- Both new ETFs are designed to offer investors exposure to SUI’s price as well as staking rewards from the blockchain’s proof-of-stake mechanism.
- The price of SUI has fallen sharply to around $0.95, a drop of over 50% since Canary’s initial ETF filing was announced in March 2025.
- The Sui network experienced a significant outage last month, its second major downtime since launching in 2023.
The debut of the first-ever SUI exchange-traded funds arrived Wednesday, as Canary Capital and Grayscale launched their respective products on major U.S. exchanges. These funds provide a novel way for traditional investors to gain exposure to the Sui Blockchain‘s native token and its staking rewards.
Canary’s Stake SUI ETF now trades on the Nasdaq under the SUIS ticker. Meanwhile, Grayscale converted its existing trust into a spot ETF, which trades on the New York Stock Exchange under the GSUI ticker.
Grayscale’s Krista Lynch stated the fund offers “a convenient way to gain exposure to a network designed for scalable, real-world applications.” Consequently, Canary CEO Steven McClurg emphasized his fund allows “investors to benefit from net staking rewards generated through SUI’s proof-of-stake mechanism.”
However, this milestone comes amid a severe price decline for the underlying asset. When Cboe filed paperwork to list the Canary ETF in March 2025, SUI traded for $1.98.
At the time of writing, however, SUI’s price has fallen to $0.95, according to crypto price aggregator CoinGecko. This represents a nearly 40% loss over the past 30 days amid a broader crypto market downturn.
Furthermore, the Sui network’s reliability faces scrutiny after a nearly six-hour outage last month. This marked the blockchain’s second major period of downtime since its 2023 launch as a high-speed “Solana killer.”
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