21Shares Files Official ETF Application for Sui (SUI) Token on Nasdaq
Taking significant steps in the field of crypto asset management, 21Shares officially submitted an application to Nasdaq on May 27, 2025, for a new exchange-traded fund (ETF) based on the Sui (SUI) token. This development proves that the SUI ecosystem is gaining increasing attention among institutional investors.
S-1 Statement and 19b-4 Filing Completed
The application followed the S-1 registration statement submitted by 21Shares to the U.S. Securities and Exchange Commission (SEC) on May 1. The company has also completed the 19b-4 filing, which is required for the ETF to be listed on Nasdaq. These two documents represent the key elements of both the legal and operational process, and are of critical importance for the SEC’s final approval procedure.
ETF Structure: Direct Exposure to SUI
21Shares’ new ETF proposal aims to provide investors with direct and physical exposure to the Sui token. This means investors can access the asset through the stock exchange without directly holding SUI tokens in their own wallets.
The fund’s Net Asset Value (NAV) will be determined based on the SUI/USD price provided by CF Benchmarks. This reference aims to place the ETF’s valuation on a transparent and reliable foundation. On the custody side, Coinbase Custody will be responsible, emphasizing investor protection and fund security.
A New Bridge Between Crypto and Traditional Finance
This move by 21Shares is seen as a major step in integrating crypto assets with traditional financial instruments. If the SUI-based ETF is approved, it could pave the way for institutional investment channels—not only for Sui but also for other alternative layer-1 projects.
The ETF filing also brings the SEC’s regulatory stance on crypto assets back into focus. If 21Shares succeeds, it could open the door for the broader adoption of such products in U.S. markets.
