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Next Crypto To Explode: Bitwise Files SUI ETF While Investors Move to DeepSnitch AI As It Nears $1 Million

Next Crypto To Explode: Bitwise Files SUI ETF While Investors Move to DeepSnitch AI As It Nears $1 Million

BlockchainReporterBlockchainReporter2025/12/20 13:51
By:BlockchainReporter

Crypto markets are showing fresh signs of activity after Bitwise filed with the US Securities and Exchange Commission to launch a spot exchange-traded fund tracking Sui. The proposed product, which would follow the spot price of the SUI token, adds Sui to the growing list of rising momentum coins drawing institutional attention.

Bitwise submits SEC application for spot Sui ETF

Crypto investment firm Bitwise has taken a formal step toward expanding its digital asset offerings by submitting an application to the US Securities and Exchange Commission for a spot Sui exchange-traded fund. 

According to the submission, the proposed ETF is designed to reflect the spot market performance of SUI, the native token of the Layer 1 Sui Network, which was trading around $1.43 at the time of the filing. While Bitwise has not yet disclosed the fund’s trading ticker, the documents confirm that Coinbase Custody has been selected to safeguard the underlying assets.

This move places Sui alongside a growing list of cryptocurrencies attracting institutional-grade products, as asset managers continue to test regulatory appetite for spot crypto ETFs in the US.

SUI sees 12% drop amid Bitwise ETF application

SUI has experienced notable weakness over the past week, sliding roughly 12% from about $1.63 on December 13 to around $1.42 on December 19 as broader market pressure and profit-taking weighed on the token. Despite this pullback, on-chain data shows elevated activity in Sui’s network, as crypto firm Bitwise filed for a spot SUI ETF. 

Many note that SUI’s current decline fits within a persistent downtrend seen across the crypto sector in recent months, with price action remaining below key moving averages and technical indicators reflecting bearish momentum.

ETH falls 9% weekly with rising selling pressure

Ethereum has been under sustained downward pressure this week, with the price of ETH sliding from around $3,242 on December 13 to approximately $2,949 on December 19, reflecting a near 9% weekly decline as sellers dominated market action.

Next Crypto To Explode: Bitwise Files SUI ETF While Investors Move to DeepSnitch AI As It Nears $1 Million image 0

Investors and analysts point to intensifying selling pressure as a key factor behind the drop, with recent exchange inflows and outflows suggesting that holders continue to move ETH to trading venues, potentially increasing the available supply. 

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