Nasdaq Makes Power Play: First Spot SUI ETF Filed as Crypto Regulation Inches Forward

Wall Street''s favorite casino just doubled down on crypto—with a twist. Nasdaq lobbed the first spot SUI ETF filing into the SEC''s inbox, right as Congress pretends to finalize that long-promised ''crypto clarity'' bill. Because nothing says ''regulatory certainty'' like rushing a product launch before the rules are set.

Here''s the kicker: This isn''t just another Bitcoin ETF retread. SUI''s the new kid on the layer-1 block, and suddenly institutional money''s circling like sharks smelling blood in the water. Never mind that most senators still think ''gas fees'' refer to their last fill-up.

The timing? Impeccable. The irony? Thick enough to cut with a steak knife. While D.C. drags its feet on actual legislation, Nasdaq''s out here building the future—one regulatory gray area at a time. Just don''t ask who''ll be left holding the bag when the music stops.

TLDR

• Nasdaq files to list the first spot SUI ETF, showing increased interest in regulated crypto investment.
• 21Shares submits an SEC filing for a spot SUI ETF backed by physical tokens and managed without leverage.
• The House Agriculture Committee approves the Digital Asset Market Clarity Act with strong bipartisan support.
• Crypto investment products see over 300 million dollars in inflows as institutional demand for regulated assets grows.
• New ETF filings and legislative progress reflect a shift toward clearer rules and safer access to digital assets.

Nasdaq has filed to list the first-ever spot SUI ETF, marking a new chapter for institutional crypto investment. The move follows rising momentum behind the SUI token and Congress pushes forward a sweeping digital asset legislation.  These developments indicate a potential shift in how crypto is regulated and accessed in the U.S.

21Shares Moves to List Spot SUI ETF Backed by Physical Tokens

21Shares filed a registration with the U.S. SEC to list a spot ETF tracking the sui token’s performance directly. The ETF will function as a passive vehicle and will not use strategies. Instead, it will track the CME CF Sui Dollar Reference Rate, reflecting real-time U.S. dollar pricing.

Nasdaq just filed to list the 21Shares SUI ETF — a spot ETF backed by the SUI token.

From $300M+ in global ETP inflows to a potential U.S. listing, institutional momentum for Sui is very real.

Next stop: institutional adoption. pic.twitter.com/5AGtmXimHs

— Sui (@SuiNetwork) June 10, 2025

BitGo and Coinbase Custody will serve as custodians for the SUI tokens held by the Trust. The Trust will not engage in staking or yield-generating strategies and will exclude any forked or airdropped tokens from its valuation. The sponsor, 21Shares US LLC, will manage operations, while authorized participants will interact only through cash transactions.

The ETF structure ensures that the SUI token remains securely held and transparently priced through daily NAV calculations. Each creation will occur in blocks of 10,000 shares minimizing market disruption. The fund administrator and SUI counterparties will handle conversions and transfers without giving participants direct token exposure.

Clarity Bill Gains Bipartisan Support Amid Crypto Regulatory Push

The House Agriculture Committee advanced the Digital Asset Market Clarity Act with a strong 47-6 bipartisan vote. The bill aims to define regulatory boundaries between the SEC and CFTC while requiring disclosures and fund segregation. It also includes key provisions to exclude non-custodial platforms and developers from money transmitter designations.

Meanwhile, the House Financial Services Committee reviewed the remaining portions of the legislation, working toward a unified bill. If approved, the full House will consider the bill before it moves to the Senate. The combined effort reflects growing political urgency to establish a federal framework for digital asset oversight.

Recent political tensions around Donald Trump’s crypto activities have created friction in discussions, especially regarding stablecoin legislation. However, lawmakers continue negotiations as the Senate pushes forward a parallel bill on stablecoin issuers. While disagreements persist, both chambers appear aligned on advancing foundational crypto regulations.

Institutional Crypto Momentum Grows as Legal Framework Takes Shape

Over $300 million in global inflows into crypto ETPs has signaled increasing institutional interest in digital assets like SUI. Nasdaq’s SUI ETF listing signals growing U.S. acceptance of regulated investment products linked to blockchain networks. The ETF, if approved, could set a precedent for similar spot listings.

The Trust’s design ensures transparency, eliminates exposure to volatile derivatives, and keeps customer funds separate and secure. Institutional buyers will benefit from a direct, regulated vehicle tied to the SUI token, with clear accountability. This structure provides a safer path for large-scale investors seeking exposure to emerging crypto ecosystems.

Both the ETF and the Clarity Act aim to bring structure and legitimacy to U.S. crypto markets. These moves highlight a broader trend toward merging traditional finance infrastructure with decentralized technologies. As legislation and financial products evolve, digital assets may see wider acceptance and more defined market roles.