Bitwise Asset Management has taken a new step in its exchange‑traded product lineup by submitting a Form S‑1 registration statement to the U.S. Securities and Exchange Commission for a spot SUI exchange‑traded fund.
Details of the S-1 filing with the SEC
The filing appears in the SEC’s EDGAR system under the name Bitwise Sui ETF, with the registration statement lodged on December 18, 2025, under file number 333‑292227. The vehicle is structured as a Delaware statutory trust, mirroring earlier single‑asset crypto products from the firm and other issuers.
The proposed fund intends to hold SUI directly rather than via futures or synthetic instruments, delivering 100% spot exposure to the token. Coinbase is the ETF’s custodian, reinforcing its growing role as a primary storage provider for U.S. crypto funds.
How the Planned ETF Would Operate
The draft prospectus outlines a creation and redemption mechanism built around in‑kind transfers of SUI, which allows authorized participants to deliver or receive the token itself instead of cash when issuing or redeeming ETF shares. This structure aligns the fund’s share count more closely with on‑chain flows and can reduce slippage between the ETF’s market price and the underlying asset’s value.
Bitwise also plans to incorporate staking into the fund’s operations, using a portion of the held SUI to participate in network validation and generate additional tokens. Any staking rewards would accrue to the trust, with the sponsor deducting management fees and other expenses before reflecting the net effect in the ETF’s share value.
The filing lands shortly after regulators cleared a leveraged SUI product from 21Shares, highlighting the SEC’s growing docket of SUI‑linked instruments even as spot approvals remain uncertain. Until the S‑1 becomes effective and any related exchange rule changes gain sign‑off, the Bitwise Sui ETF remains a proposal rather than a tradable security, and SUI’s market price has shown limited reaction to the news in early trading data.
READ MORE: Bitcoin Price Slips as BoJ Hikes Interest Rates and Hints of More to Come
