"21Shares Files US Spot Sui ETF, Expanding Market Reach"

21Shares US Spot Sui ETF Filing

21Shares, a prominent European cryptocurrency investment firm, has taken a significant step towards expanding its presence in the US market by filing for a spot Sui exchange-traded fund (ETF). The company submitted the Form S-1 registration for the 21Shares Sui ETF with the US Securities and Exchange Commission (SEC) on April 30.

The proposed 21Shares Sui ETF will issue common shares of beneficial interest, aiming to track the performance of SUI held by 21Shares' US subsidiary. This move comes after the successful launch of the 21Shares Sui Staking exchange-traded product in Europe in July 2024, with listings on Euronext Paris and Euronext Amsterdam.

No Ticker or Planned Exchange Yet

While the 128-page filing outlines the details of the 21Shares Sui ETF, it does not specify which US exchange will host the trading of this ETF or provide a ticker symbol. The filing also emphasizes the uncertainty regarding the availability of liquidity on the exchange and the market price alignment with the net asset value (NAV) or principal market NAV at any given time.

The ETF intends to offer exposure to SUI by holding the tokens directly, without utilizing leverage, derivatives, or speculative trading strategies.

Canary Capital's Earlier Filing

It's worth noting that 21Shares is not the first company to file for a Sui ETF in the US. Prior to this, Canary Capital, a US-based crypto investment firm, submitted a Form S-1 registration for a spot Sui ETF in March 2025. Following this, Cboe BZX Exchange sought regulatory approval to list Canary's Sui ETF in early April.

Sui-based exchange-traded products (ETPs) have already demonstrated success in Europe, with products like the 21Shares Sui Staking ETP and VanEck Sui ETP actively trading in the market.

According to recent data from CoinShares, Sui-based ETPs accounted for $400 million in assets under management as of April 25. Year-to-date, these products have seen $72 million in inflows, with an additional $20.7 million coming in just last week.

Expansion of Crypto ETF Offerings

The filing for the 21Shares Sui ETF joins a growing list of crypto ETFs awaiting approval from the SEC. Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that as of May 1, there were at least 72 new crypto ETF filings pending regulatory review.

With the increasing interest in crypto investment products, the launch of the 21Shares Sui ETF represents a significant milestone in the company's efforts to provide diversified investment opportunities to global investors.

As the crypto market continues to evolve, the introduction of new ETF options can offer investors additional avenues to participate in the digital asset space, providing exposure to various cryptocurrencies and blockchain projects.