21Shares Submits Spot SUI ETF Filing to Nasdaq

New York, May 27, 2025 – 21Shares US LLC has filed a Form 19b-4 with Nasdaq, proposing the listing of a spot Sui (SUI) exchange-traded fund (ETF). This filing follows the company’s earlier S-1 registration with the U.S. Securities and Exchange Commission (SEC), marking a significant step toward offering regulated exposure to SUI tokens through traditional financial markets.

The proposed ETF would directly hold SUI tokens and track the CF Sui-Dollar Reference Rate Index, avoiding the use of derivatives or staking mechanisms. Coinbase Custody Trust is named as the custodian for the fund, responsible for securely storing the underlying crypto assets.

Spotlight on Sui Blockchain and Market Response

The Sui blockchain, developed by Mysten Labs, is a high-performance Layer 1 network designed for low-latency and scalable transactions. Since its launch, it has gained attention for its ability to power decentralized applications efficiently. The ETF filing by 21Shares signals growing institutional interest in expanding beyond major assets like Bitcoin and Ethereum.

The announcement contributed to a price surge in SUI, reaching $3.64, reflecting investor optimism about gaining regulated access to the token. This filing also follows a similar proposal made by Canary Capital in March, suggesting increasing competition among asset managers to bring altcoin ETFs to market.

Potential Impact and Industry Implications

If approved, the spot SUI ETF would provide both retail and institutional investors with a way to invest in SUI via traditional brokerage platforms, removing the need to directly interact with cryptocurrency exchanges. This aligns with a broader industry trend to integrate digital assets into mainstream finance.

21Shares has also partnered with Mysten Labs to collaborate on research and product development that supports the adoption of the Sui ecosystem globally. However, it remains to be seen whether the SEC will extend ETF approvals beyond Bitcoin and Ethereum, as regulatory clarity for altcoin-based ETFs continues to be a key issue.

Community Reactions

• Lord Atu celebrated this major milestone for SUI.
• Goku believes that mass adoption is coming soon.
• Holders are already anticipating a parabolic move for $SUI