Major European cryptocurrency investment firm 21Shares has filed for a spot Sui exchange-traded fund (ETF) in the United States, marking another step in its expansion to the US market.<\/p>\n
21Shares on April 30 submitted<\/a> the Form S-1 registration for a spot Sui (SUI<\/a>) ETF to the US Securities and Exchange Commission (SEC).<\/p>\n Called the 21Shares Sui ETF, the proposed ETF will issue common shares of beneficial interest by seeking to track the performance of SUI held by 21Shares\u2019 US subsidiary.<\/p>\n The US filing comes a year after 21Shares started<\/a> trading the 21Shares Sui Staking exchange-traded product in Europe in July 2024, with its first listings on Euronext Paris and Euronext Amsterdam.<\/p>\n The 128-page filing does not specify on which US exchange the new SUI ETF is expected to debut trading. The ETF also doesn\u2019t have a ticker symbol yet.<\/p>\n \u201cThere is no certainty that there will be liquidity available on the exchange or that the market price will be in line with the NAV [net asset value] or the principal market NAV at any given time,\u201d it states.<\/p>\n An excerpt from the S-1 Form for 21Shares Sui ETF. Source: SEC<\/em><\/p>\n The filing highlighted that the ETF aims to provide exposure to SUI by holding the tokens directly, without utilizing leverage, derivatives or engaging in speculative trading.<\/p>\n 21Shares is not the first company to file for a Sui ETF in the US. Canary Capital, a US-based crypto investment firm, filed a Form S-1 registration<\/a> for a spot Sui ETF on March 17.<\/p>\n Subsequently, Cboe BZX Exchange asked US regulators<\/a> for clearance to list Canary\u2019s Sui ETF in early April.<\/p>\n Sui-based ETPs have already been trading in Europe, with some of such products including 21Shares Sui staking ETP and VanEck Sui ETP.<\/p>\n Related: <\/strong><\/em>More than 70 US crypto ETFs await SEC decision this year \u2014 Bloomberg<\/strong><\/em><\/a><\/p>\n According to the latest CoinShares update, Sui-based ETPs had $400 million<\/a> in assets under management as of April 25.<\/p>\n Sui (SUI) ETP products had $400 million in AUM as of April 25, 2025. Source: CoinShares<\/em><\/p>\n Year-to-date, Sui ETPs have seen $72 million of inflows, with a fresh $20.7 million coming in just last week.<\/p>\n The latest ETF filing by 21Shares is yet another product joining a massive list of crypto ETFs awaiting the SEC\u2019s decision.<\/p>\nNo ticker or planned exchange yet<\/h2>\n
Canary Capital was the first to file for Sui ETF<\/h2>\n