Nasdaq Has Filed to List 21Shares' Spot Sui Exchange-Traded Fund (ETF)

Nasdaq has filed with the Securities and Exchange Commission to list a spot Sui (SUI) exchange-traded fund (ETF)

Nasdaq has filed to have crypto asset manager 21Shares’ spot Sui exchange-traded fund (ETF) listed in the US, triggering the Securities and Exchange Commission’s review period.

The stock market’s Tuesday 19b-4 filing, which requests the SEC to list the 21Shares SUI ETF, comes after 21Shares applied for the regulator to approve trading of the proposed fund via an S-1 filing on April 30.

Both regulatory filings are required for the Sui (SUI) tracking fund to launch, with the 19b-4 filing commencing the SEC’s review process. The agency must decide whether to accept, reject or delay the application within 45 days and can defer its decision multiple times, for a maximum review period of 240 days.

The SEC must decide on 21Shares’ application by January 18, 2026, at the latest.

21Shares proposed BitGo and Coinbase Custody as the custodians to hold SUI on behalf of the trust, however, the filing did not include details on a management fee or ticker.

Canary Capital is the only other asset manager to have submitted 19b-4 and S-1 filings to list a spot Sui ETF, filing the forms on April 8.

21Shares said in its 19b-4 filing that the SUI token powers the Sui network and serves four main purposes: it can be staked to earn rewards, used to pay gas fees, function as a liquid asset for Sui applications and serve as a governance token.

The Sui ecosystem is largely focused on decentralized applications and has been dubbed a potential Solana killer.

SUI is the 13th-largest cryptocurrency, but its $12.3 billion market cap remains a fraction of Solana’s (SOL) $92 billion market cap, according to CoinGecko.

21Shares aims to add to SUI offerings

21Shares already lists a Sui exchange-traded product in Europe, on the Euronext Paris and Euronext Amsterdam stock exchanges.

Those listings have contributed to SUI-based exchange-traded products having $317.2 million in assets under management (AUM), according to a May 26 report from CoinShares.

Flows into SUI ETPs increased by $2.9 million between May 16 and May 24, and only trails Bitcoin (BTC), Ether (ETH), Solana and XRP (XRP) in terms of net assets.