Nasdaq has filed for crypto asset supervisor 21Shares to checklist a spot Sui exchange-traded fund (ETF) within the US, initiating the Securities and Alternate Fee’s overview course of.
The inventory market’s Might 23 19b-4 submitting, which asks the SEC to checklist the 21Shares SUI ETF, follows 21Shares’ April 30 submission of its S-1 registration assertion to the SEC, which requested the regulator to approve buying and selling of the proposed fund.
Each regulatory filings are wanted for the Sui (SUI) monitoring fund to gi reside, with the 19b-4 submitting kicking off the SEC’s overview course of. The company should determine whether or not to just accept, reject or delay the applying inside 45 days and it may well delay its resolution a number of occasions, for a most overview interval of 240 days.
The SEC should determine on 21Shares’ software by Jan. 18, 2026, on the newest.
21Shares proposed BitGo and Coinbase Custody because the custodians to carry SUI on behalf of the belief, nonetheless, the submitting didn’t embrace particulars on a administration charge or ticker.
Canary Capital is the one different asset supervisor that has submitted 19b-4 and S-1 filings to checklist a spot Sui ETF, submitting the kinds on April 8.
21Shares mentioned in its 19b-4 submitting that the SUI token powers the Sui community and serves 4 fundamental functions: it may be staked to earn rewards, used to pay fuel charges, operate as a liquid asset for Sui purposes and function a governance token.
Associated: SharpLink launches Ethereum treasury, faucets Joe Lubin as board chair
The Sui ecosystem is essentially centered on decentralized purposes and has been dubbed a possible Solana killer.
SUI is the Thirteenth-largest cryptocurrency, however its $12.3 billion market cap stays a fraction of Solana (SOL)’s $92 billion market cap, in accordance with CoinGecko.
21Shares goals so as to add to SUI choices
21Shares already lists a Sui exchange-traded product in Europe, on the Euronext Paris and Euronext Amsterdam inventory exchanges.
These listings have contributed to SUI-based exchange-traded merchandise having $317.2 million in property below administration (AUM), in accordance with a Might 26 report from CoinShares.
Flows into SUI ETPs elevated by $2.9 million between Might 16 and Might 24, and solely trails Bitcoin (BTC), Ether (ETH), Solana and XRP (XRP) when it comes to internet property.
Journal: TradFi is constructing Ethereum L2s to tokenize trillions in RWAs: Inside story
