Nasdaq Files to List 21Shares SUI ETF, Kicking Off SEC Review Process

June 11, 2025 – In a major step toward broader institutional access to Sui’s Layer 1 blockchain, Nasdaq has officially filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to list the 21Shares SUI ETF, a spot exchange-traded fund backed by the SUI token.

The filing marks the formal start of the SEC’s review process, pushing Sui into the growing roster of digital asset ETFs vying for regulatory approval in the United States.

21Shares Doubles Down on Sui

The filing builds on 21Shares’ April S-1 registration, signaling serious commitment to making Sui investment-ready for U.S. markets. The firm already offers a Sui ETP on Euronext Paris and Amsterdam, which has seen $300 million in inflows globally. The proposed U.S. spot ETF could significantly boost accessibility for traditional investors.

Institutional Support Is Mounting

Sui’s growth isn’t limited to 21Shares. Since late 2024, the ecosystem has attracted major financial players like Franklin Templeton, Ant Financial, VanEck, Grayscale, and Canary Capital, all of whom have launched investment products or initiatives tied to the Sui blockchain.

“The Sui ecosystem has become a primary destination for serious builders and institutions,” said Kevin Boon, President of Mysten Labs. “Looking back at our mainnet only two years ago, the milestone of a Nasdaq filing is a powerful moment.”

A Layer 1 Built for Scale

Sui is often dubbed the only blockchain engineered from the ground up for mass adoption. Its object-oriented programming model and parallel execution give it unmatched scalability, supporting diverse sectors from DeFi and gaming to real-world asset tokenization.

Ranked 8th in total value locked (TVL), Sui’s on-chain metrics are surging:

• Stablecoin market cap: $1.1 billion, up 190% YTD
• Stablecoin transfer volume: $110 billion in May 2025

With such numbers and growing regulatory momentum, the SUI ETF could accelerate the chain’s institutional breakout.

What Comes Next?

The SEC review process triggered by the 19b-4 filing will now proceed over several weeks or months. If approved, the 21Shares SUI ETF could become the first U.S.-listed fund giving direct spot exposure to the SUI token, marking a new chapter for both 21Shares and the broader Sui ecosystem.