The company has formally filed to list the 21Shares SUI ETF on the Nasdaq. The filing, made on May 27, 2025, via Nasdaq’s 19b-4 application to the U.S. Securities and Exchange Commission, represents the most recent attempt to provide institutional-grade access to developing blockchain ecosystems.
Traditional investors would gain regulated exposure to one of the fastest-growing Layer 1 platforms in the cryptocurrency market through the proposed ETF, which would follow the spot SUI price, the native token of the high-performance Sui blockchain network. This change is part of a larger trend of altcoin ETF applications, which are changing how institutional investors can acquire digital assets beyond Ethereum and Bitcoin.
21Shares SUI ETF
Since 21Shares’ first S-1 registration statement was submitted to the SEC on May 1, 2025, the timing of this submission is particularly noteworthy. Bringing new ETF products to market often involves the dual filing procedure, which combines the S-1 registration with the 19b-4 listing application.
With its simple structure and avoidance of intricate financial instruments, the fund targets institutional investors. To ensure clear and accurate pricing, the fund will use the SUI/USD reference price compiled by CF Benchmarks to determine its net asset value every day, according to the filing documents.
The fund will not use staking techniques, leverage, or derivatives; it will only hold spot SUI coins. For risk-averse institutional investors, this conservative strategy is a desirable alternative, as it prioritizes simplicity and regulatory compliance over yield generation.
As the custodians of the fund’s digital assets, BitGo and Coinbase Custody will offer institutional-grade security and storage options.
In addition to the ETF filing, 21Shares has established a strategic alliance with the Sui network, indicating the asset manager’s ongoing dedication to the ecosystem.
Increasing Altcoin Momentum
Senior Bloomberg analyst Eric Balchunas suggests that, given the growing regulatory acceptance of diverse cryptocurrency investment vehicles, many altcoin exchange-traded funds (ETFs) have a 75% or greater chance of gaining approval from the SEC.
The market for cryptocurrency ETFs appears poised for substantial growth, as indicated by the positive outlook that extends beyond SUI. This includes pending applications for Litecoin, Solana, and XRP exchange-traded funds (ETFs).
Institutions’ desire for regulated cryptocurrency exposure is evident in the success of Bitcoin and Ethereum ETFs, which have opened the door for these next-generation products.
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