Quick overview

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The US Securities and Exchange Commission (SEC) received a 19b-4 filing from Nasdaq requesting permission to list the 21Shares SUI ETF. This follows the submission of 21Shares’ S-1 registration statement in April and marks the official beginning of the regulatory review process.

The altcoin traded close to $4, after a brief lull in mid-May, it experienced a sharp decline due to heightened volatility, bottoming below $3 in early June amid a general market pullback.

The proposed fund, however, signifies growing institutional interest in the Sui ecosystem, a Layer 1 blockchain renowned for its high throughput and developer-friendly architecture. Since then, it has rebounded, rising above $3.4

 21Shares has already launched a Sui exchange-traded product (ETP) in Europe, and inflows into these products have increased recently following its listing on Euronext Paris and Amsterdam.

The Sui Foundation stated that over $300 million is distributed worldwide among SUI-based investment products. A successful US launch will provide wider access to the network and its token.

 Kevin Boon, President of Mysten Labs, stated, “The Sui ecosystem has become a destination for serious builders and institutions, and 21Shares has built its legacy on identifying those trends early. Interest in Sui has expanded beyond 21Shares, as companies such as Canary Capital, Franklin Templeton, VanEck, Grayscale, and Ant Financial have initiated various projects linked to the network since late 2024.  The NASDAQ filing milestone represents a significant event when we reflect on our mainnet two years ago. We take pride in assisting 21Shares in creating a future where SUI is accessible to all investors. “