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21Shares Seeks SEC Approval for SUI ETF as Token Jumps 4%
21Shares Seeks SEC Approval for SUI ETF as Token Jumps 4%
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
Swiss asset management firm 21Shares has filed an S-1 registration with the U.S. SEC for a SUI exchange-traded fund, sparking a 4% price increase for the token to $3.67. SUI now boasts an $11.8 billion market cap, nearing top 10 cryptocurrency status.
"Our research indicates SUI could emerge as one of blockchain’s most promising architectures," stated 21Shares President Duncan Moir during the Sui Basecamp event. The layer-1 network, built by ex-Meta engineers, continues gaining institutional traction.
This filing follows Canary Capital’s similar SUI ETF submission six weeks earlier. Crypto markets now await SEC’s decision, which could significantly bolster Sui’s legitimacy and adoption if approved.
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