The Sui Community (@SuiNetwork) has introduced a major step in direction of higher institutional adoption, with Nasdaq formally submitting to record the 21Shares SUI ETF.
This move marks a pivotal second for the SUI token, because it represents a spot Trade-Traded Fund (ETF) straight backed by the digital asset.
The submitting underscores a rising institutional curiosity in SUI. The Sui Community highlighted that “From $300M+ in world ETP inflows to a possible U.S. itemizing, institutional momentum for Sui may be very actual.” This substantial present funding in European-style Trade Traded Merchandise (ETPs) demonstrates a transparent urge for food for publicity to SUI amongst skilled traders.
The following crucial part for Sui, as said by the community, is “institutional adoption.” A U.S.-listed spot ETF would dramatically decrease the limitations to entry for conventional traders, permitting them to realize publicity to SUI with out straight holding the underlying cryptocurrency. This might unlock important capital inflows from a broader vary of funding funds and establishments.
The transfer by Nasdaq to file with the U.S. Securities and Trade Fee (SEC) for the 21Shares SUI ETF locations SUI alongside different main cryptocurrencies like Bitcoin and Ethereum which have seen or are searching for comparable regulated funding merchandise. The end result of this submitting might be carefully watched because it might set a precedent for different digital property searching for to faucet into the huge U.S. ETF market.
Kosta Gushterov
Reporter at Coindoo
Kosta has been part of the workforce since 2021 and has solidified his place with a thirst for data, unimaginable dedication to his work and a “detective-like” mindset. He not solely covers a variety of trending subjects, he additionally creates evaluations, PR articles and academic content material. His work has additionally been referenced by different information shops.
