• Grayscale filed an S-1 for the Grayscale Sui Trust, joining a wave of new institutional SUI products following 21Shares’ leveraged SUI ETF and Canary Funds’ spot SUI filing.
• Institutional demand for structured Sui exposure continues rising, with multiple firms racing to launch investment vehicles that remove the need for direct token custody.
• Analyst Crypto Patel highlights $1.18 as the key support; holding this level, combined with expanding institutional activity, could set the stage for a potential rally toward $10.

Grayscale has taken another step into the Sui ecosystem, filing fresh paperwork with U.S. regulators for the upcoming Grayscale Sui Trust. The timing isn’t random—institutions have been circling SUI-focused investment products at a faster pace lately, especially after 21Shares rolled out the first-ever leveraged SUI ETF earlier this week.

This new S-1 filing is basically Grayscale asking the SEC to approve a regulated way for investors to get exposure to SUI without needing to buy or hold the token themselves. The trust would mirror SUI’s market performance (minus fees), sticking to Grayscale’s strategy of expanding its lineup of single-asset products as institutional appetite spreads toward emerging networks.

Institutions Are Quietly Ramping Up Their Bet on Sui

Momentum has been picking up all across the industry. Just days ago, 21Shares listed TXXS on Nasdaq—a 2x leveraged SUI fund that uses derivatives instead of direct token holdings. By the end of trading on day one, the ETF closed at $24.57 with more than 4,700 shares exchanged. Not bad for a brand-new product tied to a relatively young network.

Canary Funds also threw itself into the race earlier this year by filing for a spot SUI product, which is still sitting on the SEC’s desk waiting for review. All these filings together paint a pretty clear picture: investors want structured Sui exposure, and asset managers are now racing each other to supply it.

Grayscale’s proposed Sui Trust works much like the rest of its single-asset lineup. No blockchain custody, no wallets, no token management. Just notional exposure packaged cleanly for traditional investors. The trust’s shares will track SUI’s price as closely as possible—another sign that interest in newer networks keeps growing at the institutional level.

Sui Eyes a $10 Breakout as Technicals and Demand Align

At the moment, Sui trades around $1.52, with an impressive $1.26 billion in 24-hour volume. Its market cap sits near $5.76 billion, which gives it about 0.19% dominance across the entire crypto market.

According to analyst Crypto Patel, the real battle is happening near the $1.18 support zone. He believes that as long as SUI can defend that level—and ideally break above it with conviction—the momentum could flip sharply bullish. That shift may be exactly what the market needs to push toward much higher targets.

Patel suggests that if this support holds firm, Sui could build the kind of foundation required for a sustained rally. Combined with the surge in institutional positioning, filings, ETFs, and now Grayscale’s trust… the path to a $10 target doesn’t sound as far-fetched as it used to.