Nasdaq has filed for crypto asset supervisor 21Shares to record a spot Sui exchange-traded fund (ETF) within the US, initiating the Securities and Change Fee’s evaluate course of.
The inventory market’s Could 23 19b-4 submitting, which asks the SEC to record the 21Shares SUI ETF, follows 21Shares’ April 30 submission of its S-1 registration assertion 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 evaluate course of. The company should resolve whether or not to just accept, reject or delay the appliance inside 45 days and it may well delay its determination a number of instances, for a most evaluate interval of 240 days.
The SEC should resolve 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, nevertheless, the submitting didn’t embody particulars on a administration charge or ticker.
Canary Capital is the one different asset supervisor that has submitted 19b-4 and S-1 filings to record a spot Sui ETF, submitting the varieties on April 8.
21Shares mentioned in its 19b-4 submitting that the SUI token powers the Sui community and serves 4 important functions: it may be staked to earn rewards, used to pay gasoline charges, perform as a liquid asset for Sui functions and function a governance token.
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The Sui ecosystem is essentially centered on decentralized functions 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, in accordance 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), in accordance to a Could 26 report from CoinShares.
Flows into SUI ETPs elevated by $2.9 million between Could 16 and Could 24, and solely trails Bitcoin (BTC), Ether (ETH), Solana and XRP (XRP) by way of internet belongings.
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