Nasdaq Files for 21Shares Sui ETF With the US SEC

21Shares is working to launch a spot Sui (SUI) exchange-traded fund (ETF) in the United States. According to a recent announcement, Nasdaq has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the proposed 21Shares Sui ETF. This filing initiates the regulatory review process. 21Shares Strategic Deal With Sui Network Meanwhile, this move follows 21Shares’ earlier filing to register the ETF , giving traditional investors access to SUI. Notably, the proposed ETF offers investors direct exposure to the price of SUI without owning the asset. A significant difference with this 21Shares ETF filing is that it does not plan to stake any portion of its holdings to earn yield. 21Shares has also decided to collaborate with the Lyer-1 network in a “strategic partnership.” The goal of the collaboration is to expand access globally and keep up with the growing crypto ecosystem. According to 21Shares President Duncan Moir, 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 (DeFi), and stablecoins. While filing for an SUI ETF is a step in a series of steps to actualizing it, the collaboration could positively impact SUI. It could also increase SUI’s adoption and utility for the ecosystem. 21Shares Files for Dogecoin ETF This is not the first time Nasdaq has filed for 21Shares. Recall that Nasdaq filed with the US SEC in April to list and trade the 21Shares Dogecoin ETF . Interestingly, Nasdaq’s S-1 form filing submitted to the SEC for the 21Shares Dogecoin ETF is a big step in the approval process. The SEC will review and publish the application in the Federal Register, after which the public will have a chance to share their opinions. Once that is done, the SEC will decide whether to approve or deny the ETF. However, this move follows a separate 19b-4 form that the asset manager filed that month. The form revealed the company’s interest in offering an ETF to allow institutional investors to buy Dogecoin without holding the token directly. The Crypto ETF Race Intensifies The pursuit of crypto ETFs has gained significant traction over the past years. Competition intensified after the SEC approved spot Bitcoin and Ethereum ETFs. In January 2024, the SEC approved 11 spot Bitcoin ETFs and greenlighted eight Ethereum ETFs. This development has prompted a flurry of applications for other cryptocurrencies. Firms like VanEck have applied for a Solana ETF, while 21Shares has joined the race for a spot XRP ETF alongside others like Canary Capital and Bitwise. The post Nasdaq Files for 21Shares Sui ETF With the US SEC appeared first on TheCoinrise.com .

Source: The Coin Rise