Swiss company seeks to introduce its Sui-backed crypto products to US investors
Swiss crypto asset manager 21Shares has submitted a spot Sui exchange-traded fund (ETF) filing with the United States Securities and Exchange Commission (SEC), further expanding globally. The application comes after a successful listing of the 21Shares Sui Staking ETP in Europe last year.
The April 30 S-1 filing outlines intentions for the 21Shares Sui ETF, which would track the performance of Sui (SUI) assets held by the company’s US subsidiary. The action is the company’s initial attempt to bring a Sui-related investment vehicle to American markets.
No Exchange or Ticker Revealed
The form filing does not state the exchange upon which the ETF will trade or allocate a ticker symbol. The filing also contains potential risks, such as limited market liquidity and possible divergence between the market price of the ETF and net asset value (NAV).
Canary Capital Filed First
21Shares has no rival for a spot Sui ETF, though. A US crypto investment firm named Canary Capital submitted a similar application on March 17. The Cboe BZX Exchange then requested authorization to list Canary’s ETF.
Growing Demand for Sui ETPs
Demand for Sui-based exchange-traded products is on the rise, particularly in Europe. Sui ETPs accumulated $400 million in assets under management as of April 25, 2025, CoinShares says. They have captured $72 million in year-to-date inflows, with over $20 million in the previous week alone.
SEC Faces Wave of Crypto ETF Filings
The 21Shares filing is only one component of a bigger trend. According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, as of May 1 at least 72 crypto ETF applications were queued up to be reviewed by the SEC. The regulatory decisions ahead may dictate whether new blockchain assets like Sui will be accessible to US investors.
