21Shares Has Formally Submitted a 19b-4 Form to the U.S. SEC to List Its SUI ETF

This move marks a pivotal moment as the Sui ecosystem prepares for its next growth phase. The filing, which follows an earlier S-1 registration by 21Shares

Nasdaq has submitted a 19b-4 form to the U.S. SEC for the 21Shares SUI ETF, kicking off the formal review process for one of the first spot ETFs on an altcoin in the U.S. This follows 21Shares' S-1 registration with the SEC earlier in July.

The move comes as the broader Sui ecosystem prepares for its next growth phase, having faced setbacks with a high-profile hack on the Cetus DeFi platform in June. Despite this setback, the network's TVL has since rebounded to nearly $1.94 billion, while stablecoin transfer volumes on the chain remain impressive.

Earlier this year, the emerging blockchain platform crossed the $300 million mark in terms of global exchange-traded product inflows.

The world’s largest economy is also a hotspot for DeFi activity, with platforms like Aave (AAVE) and Keep3r Network (KPR) seeing substantial outflows from U.S.-based investors.

With the SUI ETF filing now complete, the stage is set for what could be a transformative period for the Sui ecosystem, driven by institutional confidence and a possible surge in token performance.