The Latest with SUI ETF Applications
Solana's challenger, Sui, gains momentum as 21Shares files for an SUI Exchange-Traded Fund (ETF).
Check out the buzz surrounding the Sui blockchain as the race for ETF approvals heats up!
21Shares Steps In
In a significant move, 21Shares, a prominent Swiss asset manager, has taken the leap by filing an application for a SUI exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This step is set to pave the way for traditional investors in the U.S. to gain exposure to the Sui blockchain [1][3]. If granted approval, the ETF would be based on the CF Sui-Dollar Reference Rate Index [3].
Canary Capital Paves the Way
Before 21Shares, Canary Capital — a U.S.-based crypto investment firm — had already stepped into the fray, filing for a SUI ETF on March 17. The Cboe BZX Exchange also submitted a request for regulatory clearance to list Canary’s SUI ETF [2].
SUI Spikes and Market Response
Since these filings, SUI has witnessed a surge in price, reflecting growing interest in the Sui ecosystem. For instance, the price of SUI climbed approximately 5% to $3.68 shortly after the announcement of 21Shares’ application [3].
Regulatory Backlog and Demand for ETFs
As of early May 2025, a whopping 72 crypto ETF applications are pending SEC decisions, highlighting a high level of demand for cryptocurrency investment products [2]. Among these are applications from both 21Shares and Canary Capital.
The increasing number of ETF filings indicates a significant surge in institutional interest for cryptocurrency exchange-traded products. Sui, with its innovative blockchain technology, appears to be a particular focus for investors. Stay tuned for updates on the development of these potential ETFs and their impact on the Sui ecosystem!
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In the world of finance, traditional investors in the U.S. are looking to gain exposure to the Sui blockchain through the potential approval of a SUI exchange-traded fund (ETF) filed by 21Shares. Meanwhile, other cryptocurrencies, including altcoins, continue to attract attention and investment, underlining the growing interest in blockchain technology in the larger financial sector.
