SUI trades near $0.97 ahead of Grayscale’s GSUI ETF launch on NYSE Arca, with weekly gains of 10% and rising open interest.
SUI price is trading near key resistance levels as Grayscale prepares to launch its Sui Staking ETF under the ticker GSUI.
The token has posted steady weekly gains, and traders are watching whether the ETF debut could drive further price movement.
SUI traded around $0.97 on Wednesday after a modest daily increase of less than 1%.
Over the past seven days, the token has gained about 10%, reflecting gradual upward momentum.
The broader crypto market has also shown signs of recovery. Bitcoin traded above $68,000, while Ethereum hovered near the $2,000 level.
Other major altcoins such as Solana, XRP, and Dogecoin recorded mild gains during the same period.
SUI has remained above the $0.90 support zone in recent sessions. Market participants are monitoring whether sustained trading above $0.98 could support additional upside pressure.
Grayscale Investment confirmed that its Sui Staking ETF will begin trading on NYSE Arca under the ticker GSUI.
The launch follows an 8-A filing with the US Securities and Exchange Commission, which became effective automatically.
The ETF is designed to provide regulated exposure to the SUI token. Investors will gain access to SUI price performance and potential staking rewards through a traditional exchange-traded product structure.
The fund carries a management fee of 0.35%, though Grayscale stated that the fee will be waived for the first three months.
The waiver remains in place until assets under management reach $1 billion. The launch adds another crypto-linked ETF to US markets.
Related Reading: $143M in Short Liquidations Stack Above SUI – What Happens Next?
SUI recently tested resistance near the $1.20 level after stabilizing above $1.00. Analysts are observing whether the token can break above this resistance and approach the $1.50 range.
The Relative Strength Index stands near 52, which suggests moderate bullish momentum without entering overbought territory. Meanwhile, the Moving Average Convergence Divergence indicator shows the short-term line approaching the signal line.
Open interest in SUI derivatives rose by 0.82% to about $512.65 million. The increase suggests growing trading activity as the ETF launch approaches.
Traders continue to monitor the $0.90 support level, as a break below that area could shift short-term price direction.
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