Nasdaq has filed for crypto asset supervisor 21Shares to checklist a spot Sui exchange-traded fund (ETF) within the US, initiating the Securities and Alternate Fee’s review course of.
The inventory market’s Might 23 19b-4 filing, which asks the SEC to checklist the 21Shares SUI ETF, follows 21Shares’ April 30 submission of its S-1 registration statement to the SEC, which requested the regulator to approve buying and selling of the proposed fund.
Each regulatory filings are wanted for the Sui (SUI) monitoring fund to gi dwell, with the 19b-4 submitting kicking off the SEC’s review course of. The company should determine whether or not to just accept, reject or delay the applying inside 45 days and it may well delay its choice a number of occasions, for a most review interval of 240 days.
The SEC should determine on 21Shares’ utility by Jan. 18, 2026, on the newest.
21Shares proposed BitGo and Coinbase Custody because the custodians to carry SUI on behalf of the belief, nonetheless, the submitting didn’t embrace particulars on a administration payment or ticker.
Canary Capital is the one different asset supervisor that has submitted 19b-4 and S-1 filings to checklist a spot Sui ETF, submitting the kinds on April 8.
21Shares mentioned in its 19b-4 submitting that the SUI token powers the Sui network and serves 4 principal functions: it may be staked to earn rewards, used to pay gas fees, perform as a liquid asset for Sui purposes and function a governance token.
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The Sui ecosystem is essentially targeted on decentralized purposes and has been dubbed a possible Solana killer.
SUI is the Thirteenth-largest cryptocurrency, however its $12.3 billion market cap stays a fraction of Solana (SOL)’s $92 billion market cap, according to CoinGecko.
21Shares goals so as to add to SUI choices
21Shares already lists a Sui exchange-traded product in Europe, on the Euronext Paris and Euronext Amsterdam inventory exchanges.
These listings have contributed to SUI-based exchange-traded merchandise having $317.2 million in belongings below administration (AUM), according to a Might 26 report from CoinShares.
Flows into SUI ETPs elevated by $2.9 million between Might 16 and Might 24, and solely trails Bitcoin (BTC), Ether (ETH), Solana and XRP (XRP) when it comes to internet belongings.
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