Sui vs. Solana: Is a New Institutional Favorite Emerging?

In a market often dominated by established giants like Solana, a surprising challenger has stepped into the spotlight — and institutions are taking notice.

Over the past month, Sui (SUI) has made serious waves, drawing in more institutional inflows than Solana for the first time. While some are calling it a short-term shift, others see a deeper trend playing out — one that could reshape how investors approach next-gen blockchain platforms.

SUI Surges Ahead in Institutional Inflows

According to recent data from CoinShares, April was a breakout month for SUI. The layer-1 blockchain attracted $14.7 million in institutional inflows, while Solana recorded $13.9 million in outflows during the same period.

Even looking at year-to-date numbers, SUI isn’t far behind, bringing in $72 million in inflows, steadily closing the gap with its more established rival.

This sudden shift has caught the attention of market analysts, who see it as more than just a temporary rebalancing. It could reflect a broader institutional strategy of diversifying exposure across multiple high-potential networks, especially those offering newer, more scalable technology.

A Case of Diversification, Not Displacement

Still, experts caution that this doesn’t mean Solana is losing its place entirely. According to Juan Pellicer, Senior Research Analyst at IntoTheBlock, institutions aren’t ditching Solana — they’re simply spreading out their bets.

“Some capital has shifted, with cues that 60% of Solana’s outflows moved to SUI, drawn by its growth potential and newer tech,” Pellicer told BeInCrypto.
“But Solana’s established ecosystem, ETF momentum, and $73B market cap keep it a core part of diversified portfolios.”

Indeed, Solana remains a powerhouse, with major support from firms like Fidelity and a pending ETF filing that puts it ahead in the regulatory queue. SUI, while promising, is still navigating earlier-stage hurdles.

Grayscale Trusts Paint a Telling Picture

One area where SUI has clearly outperformed is in its Grayscale Trust (SUIFUND). Over the past six months, the net asset value (NAV) of the SUI trust has surged 71.8%, while Solana’s equivalent (GSOL) stayed flat. That kind of divergence speaks volumes about where fresh demand is heading.

Meanwhile, CBOE’s recent filing for Canary Capital’s proposed SUI ETF shows growing interest, though approval might take longer. Pellicer believes Solana’s ETF has a better shot in 2025, while SUI’s smaller market presence and past controversies may delay its path — barring a major shift in SEC sentiment.

SUI’s April Rally Outpaces Solana

Price-wise, both tokens have rebounded from early-year slumps. SUI climbed 56.6% in April, reaching $3.54, while Solana gained a more modest 21% to hit $151.

Yet, scale still matters — Solana’s $11 billion market cap gain in April alone was equal to SUI’s entire valuation. That shows just how far SUI still has to go before it can match Solana’s market muscle.

The Verdict: A Rising Star, But Not Yet a Replacement

SUI’s strong April performance, institutional inflows, and technological appeal make it a project to watch closely in 2025. But despite its momentum, Solana still holds the edge in ecosystem maturity, investor backing, and market dominance.

For now, SUI is shaping up to be a powerful complement — not a replacement — in institutional portfolios.