Nasdaq Files Application with SEC for 21Shares SUI ETF

Nasdaq, a global stock exchange, has filed with the United States Securities and Exchange Commission (SEC) a new exchange-traded fund (ETF) tied to the Sui blockchain‘s native token. 

According to a recent 19b-4 filing, if the proposal is approved, the ETF would be the first to provide exposure solely to the Sui blockchain. The network is renowned for its robust performance due to its strong infrastructure and developer appeal.

Furthermore, with the recent ETF, 21Shares seeks to provide access to the Sui ecosystem for traditional investors. This allows direct exposure to the asset without the hassle of holding or managing the digital asset.

21Shares Offers Investor Exposure to SUI

21Shares’ prior ETF offerings for flagship assets, such as Bitcoin and Ethereum, underscore its expertise in the digital asset investment landscape. Notably, by abstracting the complexities of direct crypto custody, an SUI ETF would allow both retail and institutional entities to gain seamless exposure to the asset while simultaneously enhancing token liquidity and reinforcing market infrastructure. 

The latest ETF filing reflects investors’ growing confidence in layer-1 blockchain networks. Built for speed and scale, Sui is setting the stage for the next wave of decentralized apps.

Following the latest move, the SUI price has seen a notable increase. The crypto asset was trading at $3.68 at the time of publication. The digital asset’s trading volume is currently over $1.18 billion. It is currently up 30%, indicating strong investor interest and confidence in the asset.

While the investment company is no stranger to crypto ETFs, the filing could boost awareness and drive broader adoption of SUI, bringing the token to the attention of a wider investor base.

Asset Managers Filing For ETFs

In recent times, asset management firms have filed for several ETFs. For instance, VanEck Digital Assets applied for an Avalanche ETF. CoinTab reported that the Trust will not rely on borrowing, derivatives, or other complex financial strategies to meet its investment goals. Additionally, the approach enables investors to benefit from AVAX’s price movements without needing to sign into a crypto exchange.

Similarly, 21Shares and Bitwise also filed for Solana ETFs to launch on Cboe’s BZX Exchange, but the securities watchdog has delayed its decision. The SEC has initiated a formal review to assess whether the proposed ETF meets regulatory requirements. The proceedings aim to ensure investor protection and guard against fraudulent or manipulative activity.

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