Nasdaq officially filed for 21Shares to list a spot SUI ETF in the US on 23 May 2025. Importantly, the filing means the beginning of a US Securities and Exchange Commission (SEC) review process.
The 21Shares SUI ETF must launch with two key regulatory filings: the S-1 registration (filed on 30 April 2025) and the 19b-4 form (filed on 23 May 2025). The SEC must make its final decision by 18 January 2026.
The spot ETF would allow investors to gain exposure to Sui (SUI) – the native token of the Sui blockchain, without directly holding the crypto. The lifeblood of the Sui blockchain, the SUI token, can be staked to earn rewards. It can also be used to pay for transaction fees on the Sui network and act as a liquid asset for decentralized application.
21Shares files $SUI ETF pic.twitter.com/h7HFo0srq1
— Quinten | 048.eth (@QuintenFrancois) May 27, 2025
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Who are the Key Players For Sui ETF?
21Shares is a well-established crypto asset manager with a strong track record in Europe. It already offers a Sui exchange-traded product (ETP) on Euronext Paris and Euronext Amsterdam. The firm has proposed BitGo and Coinbase Custody as the custodians responsible for holding the token on behalf of the trust.
Canary Capital is another asset manager that has also filed to list a spot Sui ETF. The application was submitted by Canary Capital on 8 April 2025. This makes the company a direct competitor in the race to bring the investment product to the US market.
BREAKING: @CanaryFunds files for the first-ever SUI ETF!
This is a major step toward bringing Sui to public markets — if approved, the ETF will give investors direct exposure to SUI, further fueling institutional adoption.
With $70B+ DEX volume, 67M+ accounts and… pic.twitter.com/3KIrKVtXtT
— Sui (@SuiNetwork) March 17, 2025
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Key Takeaways
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As the Sui ecosystem grows, so too does the potential for its native token to appreciate in value, making the ETF an attractive investment.
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Sui has been described as a potential “Solana killer,” thanks to its focus on high-speed, low-cost transactions and robust support for decentralized applications.
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