Nasdaq Files 21Shares Sui ETF Application, Starting SEC Evaluation: Discover Top Cryptos To Purchase!
On 23 May 2025, Nasdaq officially submitted an application for 21Shares to list a spot SUI ETF in the United States. Notably, this application signals the commencement of a review process by the US Securities and Trading platform Commission (SEC).
To proceed, the 21Shares SUI ETF requires two critical regulatory submissions: the S-1 registration (submitted on 30 April 2025) and the 19b-4 form (submitted on 23 May 2025). The SEC is expected to reach a final decision by 18 January 2026.
The spot ETF will enable investors to access Sui (SUI) – the native currency of the Sui distributed record, without the need to directly own the crypto asset. The SUI crypto token, essential to the Sui blockchain, can be staked for rewards and utilized for transaction fees on the Sui platform, serving as a liquid asset for decentralized applications.
21Shares files $SUI ETF pic.twitter.com/h7HFo0srq1
— Quinten | 048.eth (@QuintenFrancois) May 27, 2025
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Who are the Main Participants For Sui ETF?
21Shares has established itself as a prominent crypto asset manager with an impressive history in Europe. It currently offers a Sui exchange-traded product (ETP) through Euronext Paris and Euronext Amsterdam. The company has suggested BitGo and Coinbase Custody as the custodians designated to manage the coin for the trust.
Canary Capital is another asset manager that has also applied for a spot Sui ETF. This submission was made by Canary Capital on 8 April 2025, positioning the firm as a direct rival in the effort to introduce the investment product to the US crypto market.
BREAKING: @CanaryFunds has applied for the inaugural SUI ETF!
This marks a significant advancement toward bringing Sui to the public markets — if authorized, the ETF will provide investors with direct access to SUI, promoting institutional adoption.
With over $70B in DEX volume and 67M+ accounts… pic.twitter.com/3KIrKVtXtT
— Sui (@SuiNetwork) March 17, 2025
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Key Insights
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As the Sui ecosystem expands, the potential for its native coin to increase in value also rises, making the ETF a compelling investment choice.
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Sui has been touted as a possible “Solana killer,” due to its emphasis on rapid, low-cost transactions and strong base level for decentralized applications.
The article Nasdaq Submits 21Shares Sui ETF Application, Initiating SEC Review: Discover Best Crypto To Purchase! first appeared on 99Bitcoins.
