21Shares Files to Launch a New SUI ETF

Sui (SUI) got a major boost on Thursday after 21Shares' announcement of an exchange-traded fund (ETF) filing based on the token with the US Securities and Exchange Commission.

Crypto tokens have been a hot topic in the market recently, with several new filings for exchange-traded funds (ETFs) based on digital assets submitted to the US Securities and Exchange Commission. Among these filings, one that has generated significant buzz is 21Shares’ application for an ETF linked to the Sui (SUI) token.

According to the Swiss ETF provider, the partnership aims to expand SUI’s global reach as interest in the digital asset continues to gain significant traction.

“Since our earliest research into SUI, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares. “We operate based on conviction, but also investor demand, and our planned roadmap with SUI is a reflection of both.”

21Shares is among the first companies to file for a SUI ETF with the US regulator. Its move comes hot on the heels of Canary Capital’s filing for the same investment product and the Trump family-backed World Liberty Financial (WLFI) forging a partnership with the Sui Foundation last March.

Apart from SUI, 21Shares has other pending crypto ETF filings with the SEC. These include exchange-traded products (ETPs) linked to Solana (SOL), XRP, Polkadot (DOT), and Dogecoin (DOGE).

Meanwhile, 21Shares is currently one of the approved issuers of Ethereum (ETH) ETFs at the Cboe BZX. As of Thursday, the investment instrument has already accumulated $19.5 million in total net inflows.

News about 21Shares applying for a SUI ETF at the SEC saw the related token peak at $3.70 on Thursday. The figures represent around a 12% rally from a $3.30 low 24 hours prior. The crypto also topped at $12.35 billion while its total value locked (TVL) bumped up by 4.45% from $1.796 billion to $1.876 billion within the timeframe.

In addition to the positive sentiment catalyzed by 21Shares’ ETF submission, SUI got a major boost from the renewed optimism in the broader crypto market as Bitcoin (BTC) recovered to $97K during the period. It marked the premier digital asset’s return to that territory since it lost its foothold in that zone in early March.