Nasdaq has officially filed with the SEC to list the 21Shares SUI ETF. The spot ETF aims to track the performance of the SUI token, the native asset of the Sui blockchain.

The filing, submitted as a 19b-4 form, marks the formal start of the SEC’s review process. This could pave the way for U.S. investors to gain direct, regulated exposure to one of the most innovative Layer 1 blockchains on the market.

Nasdaq has submitted an application to list the 21Shares SUI ETF, a spot exchange-traded fund that will provide direct exposure to the SUI token, the native asset of the Sui blockchain.

The move follows a period of strong interest in the Sui ecosystem from major financial institutions. Since the latter half of 2024, several heavyweight firms, including Franklin Templeton, VanEck, Grayscale, and Ant Financial, have launched their own Sui-linked investment products. These products aim to offer sophisticated investors tailored avenues to participate in the rapidly expanding DeFi and Web3 domains.

The SUI ETF is being structured as a passively managed investment vehicle. It will not engage in any speculative trading, leverage, or derivatives to achieve its investment objective. Instead, the ETF is designed to mirror the price of SUI tokens with minimal deviation.

The ETF will be managed by 21Shares US LLC and overseen by CSC Delaware Trust Company. It will use the CME CF Sui—Dollar Reference Rate as its pricing benchmark, which is calculated by CF Benchmarks Ltd. based on aggregated spot market data from leading SUI exchanges.

The ETF will be listed on Nasdaq under the ticker "SUEI". It is a trust that will hold SUI tokens and issue shares of the ETF to investors. The ETF's IIV will be updated every 15 seconds during market hours, while its NAV will be determined daily.

Investors will be able to purchase and sell shares of the 21Shares SUI ETF like any other publicly traded security. Each share of the ETF will reflect a proportionate stake in the trust's SUI token holdings and the outstanding shares of the ETF.

Authorized financial institutions will manage the creation and redemption of ETF shares in blocks of 10,000 shares, or "Baskets". All transactions are paid for in cash to maintain regulatory compliance and expedite operations.

The trust is designed to keep a close watch on SUI's spot price and will not engage in any staking, yield creation, or receive any assets from blockchain forks or airdrops. Any airdropped tokens will be sold to maintain the ETF's alignment with SUI's price.

If approved by the SEC, the 21Shares SUI ETF could become one of the first spot crypto ETFs available to retail investors in the U.S. This would open up a new avenue for investors to gain exposure to the crypto market in a safe and regulated manner.

The ETF is expected to be available for trading in early 2025. However, this timeline could change pending the SEC's review and approval.output: A new spot exchange-traded fund (ETF) that will provide direct exposure to the SUI token is set to hit Nasdaq.

The ETF is being launched by 21Shares, a leading provider of crypto ETPs in Europe, and will track the performance of the SUI token, the native asset of the Sui blockchain.

The ETF is currently in the approval process with the U.S. Securities and Exchange Commission (SEC). If approved, the ETF will be listed on Nasdaq under the ticker "SUEI".

The ETF will be passively managed and will not engage in any speculative trading, leverage, or derivatives to achieve its investment objective.

The ETF will also be subject to regular inspection by independent accounting firms as required by law.

The SUI ETF is part of a broader push by major financial institutions to launch crypto investment products.

Several heavyweight firms, including Franklin Templeton, VanEck, Grayscale, and Ant Financial, have already launched their own Sui-linked investment products.

These products aim to offer sophisticated investors tailored avenues to participate in the rapidly expanding decentralized finance (DeFi) and Web3 domains.

The timing of these product launches follows a period of surging interest in the Sui ecosystem.

Known for its high throughput and low transaction fees, Sui is a Layer 1 blockchain that supports the development of decentralized applications (dApps) and offers a seamless user experience.

These factors have attracted the attention of major financial institutions, who are increasingly looking for ways to invest in the crypto market.

The SUI ETF is expected to be available for trading in early 2025. However, this timeline could change pending the SEC's review and approval.

If approved, the 21Shares SUI ETF will be one of the first spot crypto ETFs available to retail investors in the U.S. This would open up a new avenue for investors to gain exposure to the crypto market in a safe and regulated manner.

It would also provide investors with a convenient and efficient way to invest in one of the most promising crypto projects on the market today.

This news comes as the SEC is currently reviewing several other spot Bitcoin ETFs for potential approval.

A decision on these products is expected in the coming months.output: Nasdaq has officially filed with the U.S. Securities and Exchange Commission (SEC) to list the