BREAKING: Nasdaq Makes Crypto History with First-Ever 21Shares SUI ETF Filing – SEC Greenlight Next?
Wall Street''s crypto embrace hits hyperdrive as Nasdaq throws its weight behind SUI – the sleeping giant of layer-1 blockchains.
SEC''s rubber stamp or roadblock? The 75-day review clock starts now for what could become the first exchange-traded fund tracking SUI''s meteoric rise.
Behind the ticker tape: 21Shares'' relentless ETF blitz continues, betting big that regulators finally cave to crypto''s institutional tsunami. Because nothing says ''mature asset class'' like gambling on a blockchain that''s barely out of diapers.
- SEC review begins as Nasdaq files 21Shares’ spot SUI ETF form
- SUI stablecoin volume surged past $110B in May 2025 alone
- 21Shares SUI ETF avoids staking, forks, and airdrop exposure
Nasdaq has officially published the 19b-4 form for the 21Shares SUI ETF to the SEC’s public register. This application starts the formal review process of the first U.S-based spot ETF tied to the SUI token. This comes after a previous 21Shares’ S-1 registration and indicates a growing trend of regulated crypto investment products.
21Shares SUI ETF Structure
21Shares seeks to launch a SUI ETF to track the CME CF Sui Dollar Reference Rate. The fund will offer passive exposure to the SUI token without using Leveraged or yield-generating strategies. Instead, it will have a transparent structure through daily NAV calculations for fair valuation.
BitGo and Coinbase Custody will store the sui tokens on behalf of the Trust. The ETF will not include staking, airdrops or token forks in its valuation. The shares will be in fixed blocks of 10,000, so as to provide stability in operations and minimum market disruption.
The product will offer institutional-quality access to the native asset of the SUI blockchain. The Trust will transact only in cash with the authorized participants to reduce risks. The transfer and conversion of tokens will be done through fund administrators on behalf of investors.
Institutional Interest in Sui Network
The Sui network has drawn a lot of interest from financial institutions and developers since its mainnet launch in 2023. The global assets under management of SUI-based investment products have surpassed $300 million. 21Shares has seen increased inflows across its Sui ETPs listed on Euronext Paris and Amsterdam.
Canary Capital, VanEck, and Franklin Templeton have initiated programs associated with the Sui blockchain. Grayscale and ANT Financial have either launched or explored other products linked to Sui in the last three quarters. These advancements show the increased interest in the network due to real-world uses and institutional integration.
Sui Network Market Success
The architecture of Sui enables fast and cheap transactions and powers applications related to DeFi, gaming and tokenization of assets. It’s unique model boosts scalability which has led to robust ecosystem growth. In May 2025, the volume of stablecoin transfers on Sui exceeded $110 billion.
The network ranks eighth in total value locked, with a stablecoin market cap of more than $1.1 billion. The stablecoin transactions on Sui has exceeded 190% year-to-date, boosting confidence in its infrastructure. This performance strengthens demands for wider integration of financial products.
Digital Asset Regulation Gains Momentum in U.S
Meanwhile, U.S legislators have advanced the Digital Asset Market Clarity Act to clarify regulatory jurisdictions. The bill has cleared the House Agriculture Committee in a wide bipartisan vote and is now with the Financial Services Committee. It aims to separate the roles of SEC and CFTC as well as protect developers and non-custodial platforms.
