21Shares has taken a big step toward bringing the Sui blockchain to traditional investors. The Swiss-based crypto asset manager has filed a Form S-1 with the U.S. Securities and Exchange Commission for an SUI exchange-traded fund (ETF).
If approved, the fund would track the price of SUI using the CF Sui-Dollar Reference Rate Index.
This move marks a major milestone for the Sui ecosystem. Just hours after the filing appeared on the SEC’s website, SUI’s price jumped 5% to $3.68, pushing its market cap to over $12.29 billion. That puts SUI just outside the top 10 crypto assets globally.
Built by ex-Meta engineers, Sui is a lightning-fast Layer-1 blockchain that’s turning heads for all the right reasons. With parallel transaction execution and sub-second finality, it’s built to scale, and both devs and institutions are paying attention.
The firm recently announced a partnership with the Sui team to work on joint products, research, and other initiatives aimed at expanding the ecosystem.
“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares, speaking at Sui’s Basecamp event.
“We operate based on conviction but also investor demand, and our planned roadmap with Sui is a reflection of both.”
The ETF filing also comes shortly after Canary Capital submitted its own SUI ETF proposal, suggesting a growing race to bring SUI exposure to U.S. markets. With 21Shares already established in Europe and now pushing deeper into the U.S., this could be the moment Sui truly breaks into the mainstream.
Also Read: Canary Capital Files for First-Ever Staked SEI ETF With SEC
