21Shares Files for First-Ever Spot Sui ETF

As the exchange-traded fund (ETF) race intensifies for different assets, another asset manager, 21Shares, has set sights on SUI. 21Shares signaled its interest by filing an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC). 21Shares Excludes Staking According to the filing with the SEC, Coinbase will hold custody even though it is currently silent on the exchange where the new SUI ETF will trade. Additionally, the submitted filing has not revealed the ticker symbol yet. The move makes 21Shares the second asset manager to file for an SUI ETF with the U.S. SEC. Canary Capital, which is based in the U.S., already submitted its application by filing a Form S-1 registration with the SEC on March 17, 2025. Notably, the proposed ETF will offer investors direct exposure to the price of SUI without having to own the asset. A significant difference with this ETF filed by 21Share is that it does not plan to stake any portion of its holdings to earn yield. Strategic Deal with Sui Network Signals Broader Ambitions Meanwhile, 21Shares has also decided to collaborate with the Layer-1 network in a “strategic partnership.” The goal of the collaboration is to expand access across the globe and keep up with the growing crypto ecosystem. According to Duncan Moir, president of 21Shares, the collaboration will cover product partnerships, research reports, and other areas of interest. Moir highlighted the Sui ecosystem’s throughput, scalability, and speed. He noted that the network has made it appealing for real-world asset tokenization, decentralized finance, and stablecoins. While filing for an SUI ETF is just the first step in a series of steps to actualizing it, the collaboration could positively impact SUI and increase its adoption and utility for the ecosystem. SUI Price Surges as Market Reacts to Filing and Partnership As of this writing, SUI is exchanging at $3.67, representing a 7.61% increase in the last 24 hours. Investor interest has also increased, as signaled by the 16.03% increase in trading volume to $1.61 billion within the same timeframe. This surge in market activity signals market awakening. In the coming days, market observers will monitor whether the recent development might catalyze a price increase for the ecosystem. The post 21Shares Files for First-Ever Spot Sui ETF appeared first on TheCoinrise.com .

Source: The Coin Rise