Sui crypto has just entered the big leagues.
the first SUI ETFs are now available in the US, Canary Capital and Grayscale both launched their products today. And they come with built-in staking yield.
Key takeaways
- Canary Capital’s SUIS is actively traded on Nasdaq, while Grayscale’s GSUI launched on the NYSE after converting from a trust.
- Both funds offer staking rewards, a first-of-its-kind feature for U.S. spot crypto ETFs that allows investors to capture network performance.
- The quotes come as SUI trades near $0.95, down around 40% over the past 30 days amid broader altcoin market capitulation.
Why Sui Crypto ETFs with Staking Matter
Although Bitcoin and Ethereum spot ETFs have attracted over $140 billion in inflows, they notably lack staking mechanisms due to initial regulatory hurdles.
The new SUI ETFs from Canary and Grayscale can actually put the tokens into play. They leverage Sui’s delegated proof-of-stake system and earn rewards. This return can help offset typical management fees.
For institutions, this is a big problem. They don’t just want to be exposed to prices. They also want an income.
The demand for smarter products is growing rapidly. However, the SUI channel itself has been in decline over the past few months. It is now mid-January and DEX volume stands at $3 billion. It may outperform in January, but it’s still below last year’s numbers.
Breaking down the structure of ETFs
Canary Capital’s ETF is listed on Nasdaq under SUIS. It falls under the 1940 law, which implies stricter supervision.
This generally attracts the most conservative funds. CEO Steven McClurg made it clear. Investors have direct access to net staking rewards.
At the same time, Grayscale spun off its former Sui trust into an ETF called GSUI on the NYSE. The fee is 0.35%, waived for the first three months or until assets reach $1 billion.
And here’s the kicker. 100% of tokens were staked at launch. Classic grayscale motion. Transform existing trusts into cash ETFs and scale quickly.
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