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While SEC postponement decisions on spot ETF applications continue to come one after another, the latest move came from 21 Shares.
Accordingly, Nasdaq filed a 19b-4 filing with the U.S. Securities and Exchange Commission for the 21Shares $SUI ETF.
The exchange's 19b-4 filing means it is seeking regulatory permission to list the ETF, provided it receives SEC approval.
The ETF aims to offer direct exposure to the spot price of $SUI, the native cryptocurrency of the Sui network, which is custodied by Coinbase;
21Shares filed its first application for a spot Sui ETF with the SEC on May 1, following recent filings for XRP, Solana, Dogecoin, and Polkadot-based funds. Along with this ETF filing, 21Shares also announced a strategic partnership to expand global access to the $SUI ecosystem.
“We have filed with the SEC for a $SUI ETF in the US, our first step towards expanding exchange-traded access to $SUI.”
Before 21Shares, asset manager Canary Capital also filed with the SEC for a spot Sui ETF in the US.
Having recently fallen due to the attack by the $SUI-based DEX Cetus Protocol, $SUI turned its direction upwards with the latest ETF news and experienced some recovery. $SUI continues to trade at $3.65 at the time of writing.
*This is not investment advice.