21Shares Files for SUI ETF, SUI Rises 4%

Swiss asset manager 21Shares has filed a S-1 registration form for a SUI exchange-traded fund (ETF) to the Securities and Exchange Commission (SEC).

SUI is currently trading at $3.67, rising by 4% after the filing went live on the SEC’s website.

“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 annual Basecamp conference.

SUI is a layer-1 blockchain developed by former Meta engineers, the network’s native token has a market cap of $11.8 billion leaving it just outside the top 10 largest cryptocurrencies.

21Shares’ filing comes six weeks after Canary Capital filed paperwork to launch a SUI ETF.