21Shares SUI ETF Has Been Filed with the SEC to Be Listed on Nasdaq

A 19b-4 version of the 21Shares SUI ETF has been filed with the SEC to be listed on Nasdaq, allowing regulated exposure to the SUI blockchain

The U.S. Securities and Exchange Commission (SEC) is reviewing an application by 21Shares to launch a 19b-4 version of the 21Shares SUI ETF, which will be listed on Nasdaq and provide regulated exposure to the SUI blockchain.

The SEC will publish the filing in its public register on June 10, formally commencing the review process. This follows the S-1 registration of 21Shares in April, highlighting the increasing institutional demand for exposure to the Sui ecosystem.

The proposed ETF’s investment strategy involves tracking the current price of SUI, the utility token of the high-performance Layer 1 Sui network blockchain. The U.S. listing could significantly increase the platform’s accessibility, considering the over $300 million already invested in SUI-based exchange-traded products abroad.

SUI is currently trading at $3.49, showing a 1.24% decrease in the last 24 hours, with a market cap of $11.87 billion and a 24-hour trading volume of $972.06 million.

The Sui ecosystem, known for its object-oriented programming and scalable architecture, enables decentralized finance, games, and real-world asset tokenization. Its stablecoin market cap exceeds $1.1 billion, showcasing a 190% increase in 2025, while stablecoin transfer volume in May topped $110 billion.

In its filing, Nasdaq highlights the attraction of Sui to institutional investors, presenting the ETF as an institutional means of investing in the cryptocurrency without needing to hold any SUI tokens. Coinbase Custody and BitGo are named as the custodians for the ETF, both offering the high level of security demanded by institutional investors.

SEC has until January 18, 2026, to decide on the application, with the possibility of extending the period by not more than 240 days. The procedure will involve checking the fraud prevention method used to calculate the ETF’s SUI price, collecting prices in accordance with Section 13 of the Securities Exchange Act of 1934, and keeping an eye on any market activity that could affect the ETF’s price.

The stellar performance of the crypto ecosystem in the first half of 2025 is evident in the substantial gains made by Bitcoin and Ethereum, which have nearly tripled in value since the start of the year.

Despite a $223 million hack of the Cetus protocol in May, the Sui ecosystem has shown resilience. To mitigate the impact and instill confidence in the ecosystem, the Sui Foundation developed a $10 million security fund and managed to freeze $160 million of the stolen funds.

The 21Shares SUI ETF filing signals the broader altcoin ETFs’ intentions of entering the U.S. market. Expressing competitive interest, Canary Capital also filed for a Sui ETF in April. Currently, the SEC is considering 72 ETF concepts that include cryptocurrencies such as Solana.

The total value of assets managed for European exchange-traded instruments listed on Euronext Paris and Amsterdam is €286.3 million ($317.2 million). In the period between May 16 and 24, 2025, saw an influx of 2.9 million. This success underscores the demand for regulated exposure to SUIs among institutional investors.

Sui network, known for its delegated proof-of-stake consensus and parallel transaction processing, ranks as the eighth network in terms of total value locked. Its characteristics that enable high volumes of transactions make it a competitor of Solana.

If approved by the SEC, the exchange-traded fund (ETF) will be listed and traded by Nasdaq during market hours, with intraday indicative values being posted every 15 seconds. The fund manager will calculate the net asset value daily at 4:00 p.m. ET.

The registration comes in the wake of a positive regulatory shift towards crypto in the U.S., as President Trump ordered a friendlier approach by the SEC to crypto in May. This has opened the door for altcoin ETF applications, which could transform the landscape of institutional crypto investing.

Since early June, SUI has seen a 18% surge on the hopes of the ETF filing. A successful break above the $3.50 might take SUI to the next resistance levels of $3.80 or $4.20. However, a lack of ability to overcome resistance could result in a return towards the support at $3.00 - $3.20.