Sui ETFs just launched — and the volume is collapsing because nobody’s showing up
The post Sui ETFs just launched — and the volume is collapsing because nobody’s showing up appeared on BitcoinEthereumNews.com.
Two spot Sui ETFs began trading in US markets on Feb. 18. Canary’s SUIS is listed on Nasdaq, while Grayscale’s GSUI appeared on NYSE Arca. Both products offer staking-enabled exposure to Sui, the layer-1 blockchain positioned as a high-throughput alternative to Ethereum. By the end of the first trading session, GSUI had moved roughly 8,000 shares. SUIS traded around 1,468. Combined notional volume came in under $150,000, a figure so low it barely registered on the tape. While Solana’s BSOL debuted with $55.4 million in day-one trading volume in October 2025 and XRP’s XRPC opened with roughly $58 million a month later, Sui’s twin launches struggled to generate liquidity equivalent to a single large institutional block trade. The contrast reveals a structural reality: the further an asset sits from the top of the market cap rankings, the harder it becomes to summon secondary-market activity. This happens even when the regulatory wrapper, exchange listing, and issuer pedigree are identical. Liquidity ladder Debut-day trading volume creates a clean snapshot of investor readiness. It captures how many desks are willing to make markets, how many advisors are comfortable recommending exposure, how many retail platforms prominently feature the ticker, and how much natural two-way flow exists from the open. The altcoin ETF class has now generated enough launches to reveal clear tiering. At the top, Solana and XRP command tens of millions in opening-day volume. Bitwise’s BSOL moved $55.4 million on Oct. 28. Canary’s XRPC hit roughly $58 million on Nov. 13. Those numbers reflect institutional-grade liquidity: tight spreads, active market making, and enough flow to absorb size without moving the market. The mid-tier shows more variance. Grayscale’s Chainlink ETF (GLNK) reportedly generated around $13 million in first-day trading volume on Dec. 2. Bitwise’s competing Chainlink product (CLNK) moved approximately $3.2 million in notional…
Filed under: News - @ February 20, 2026 12:25 pm