21Shares Advances SUI ETF Bid as Nasdaq Submits Filing to US Regulator
The push to introduce a new cryptocurrency investment product in the United States has entered a critical phase. 21Shares, a major player in crypto investment products, is moving closer to launching a spot exchange-traded fund (ETF) tied to the digital token SUI. This development follows Nasdaq’s recent submission to the US Securities and Exchange Commission (SEC), which signals the formal beginning of the regulatory review.
This filing, referred to as a 19b-4, is essential for listing a new investment product on a US exchange. With the SEC now placing the document on its public register, the process to assess whether the ETF can be approved has officially begun. This step builds upon a previous submission from 21Shares in April, where it filed an S-1 registration—another key component in launching a new ETF.
Image 1: 21Shares Moves Forward with SUI ETF (Source: X)
Making SUI More Accessible in the US
The proposed product is designed to give US-based investors a way to gain exposure to the SUI cryptocurrency without having to hold the actual digital asset. This spot ETF would track the real-time market value of SUI, offering investors a regulated, stock-market-traded option to take part in the growth of the Sui blockchain.
While the ETF is still awaiting approval, 21Shares already offers a similar product in European markets, with listings in both Paris and Amsterdam. These existing products have seen a notable increase in demand this year. At present, global investment in SUI-linked exchange-traded products has exceeded US$300 million.
Bringing such a product to the American market would expand accessibility for both institutional and retail investors. It would also increase awareness of the Sui blockchain, which has quickly become a well-known name in the cryptocurrency space due to its technology and performance.
Nasdaq just filed to list the 21Shares SUI ETF — a spot ETF backed by the SUI token.
From $300M+ in global ETP inflows to a potential U.S. listing, institutional momentum for Sui is very real.
Next stop: institutional adoption. pic.twitter.com/5AGtmXimHs
— Sui (@SuiNetwork) June 10, 2025
Support from Financial Institutions and Developers
Interest in the Sui ecosystem has been building since late last year, attracting attention from a variety of financial institutions and investment firms. Companies such as Ant Financial, Franklin Templeton, Canary Capital, VanEck, and Grayscale have each taken steps to integrate Sui into their investment offerings or infrastructure. Their involvement reflects the increasing credibility of the Sui blockchain as a foundation for future financial applications.
Kevin Boon, who serves as the president of Mysten Labs—the organisation responsible for developing the Sui blockchain—remarked on the progress the project has made. According to him, the Nasdaq submission marks a significant point in Sui’s journey. Since the launch of its mainnet two years ago, the platform has steadily grown in size and importance. Boon views the ETF proposal as evidence of strong institutional confidence in what the blockchain offers.
The support from firms such as 21Shares also demonstrates a broader trend among early movers in the cryptocurrency sector, who aim to identify and support infrastructure they believe is set to play a central role in the future of decentralised finance.
Image 2: (Source: The Defiant)
Strong Performance and Rapid Growth
Sui is classified as a Layer 1 blockchain, meaning it operates on its own network rather than being built on top of another platform. What distinguishes Sui is its use of an object-oriented programming structure, which helps developers design more efficient and scalable applications. This architecture enables the blockchain to manage large volumes of transactions at high speeds.
As a result, Sui has seen adoption across various sectors, including decentralised finance, gaming, and tokenised representations of physical assets. Its performance metrics in 2025 have been particularly strong. The network currently ranks eighth among all blockchains in terms of total value locked—a common measure used to assess activity and confidence in decentralised networks.
Additionally, Sui’s stablecoin market has grown significantly. As of this year, the total value of stablecoins on the platform has reached more than US$1.1 billion, marking a year-to-date rise of over 190 per cent. In May alone, the platform processed more than $110 billion in stablecoin transfers, highlighting its growing use in everyday financial activity.
These figures underline the level of activity taking place within the Sui network, reinforcing the belief that the blockchain is becoming a major part of the wider cryptocurrency and Web3 environment.
Read Also: SUI Gains Strength as Analysts and Institutions Signal Imminent Breakout
On its official X account, 21Shares confirmed that the SEC has acknowledged Nasdaq’s submission. If given the green light, this would be the first spot SUI ETF available in the United States. It would also add to a growing list of digital asset-based investment vehicles that have been developed to give investors broader access to blockchain networks through traditional finance channels.
