SUI Skyrockets as 21Shares Files ETF 

• 21Shares files for a U.S. ETF that tracks the price of Sui and appoints Coinbase as custodian.
• The company also partnered with the Sui network to support product development and research.
• After the filing, SUI’s price increased by over 10%, while in the past 14 days, it has risen by 80%.

A Securities and Exchange (SEC) filing shows that 21Shares has filed to launch a U.S.-based exchange-traded fund (ETF) tied to the price of Sui (SUI). Under the proposed fund, institutional and retail investors will directly get exposure to the performance of the Sui price. The listing exchange and ticker symbol were not disclosed, though Coinbase was named the ETF’s custodian.

JUST IN: 21Shares filed an S-1 with the SEC for a SUI ETF to enable SUI exposure via brokerage accounts.

The ETF’s approval is up for SEC approval of the S-1 and 19b-4 forms, indicating a step toward mainstream adoption for Sui Network. pic.twitter.com/tFHs2yVW58

— Coin Bureau (@coinbureau) May 1, 2025

Sui is a high-speed, Layer 1 blockchain that utilizes off-chain data structures to scale transactions with low latency. Sui is often compared to Solana for its performance claims and has so far gotten the attention of developers and investors alike. 

The 21Shares Sui ETF filing follows Canary Capital’s March filing as the second proposal submitted to the SEC. The exchange has proposed a related rule change to the SEC, and that application, which is intended for trading on the Cboe, has already passed a key procedural stage.

21Shares’s move occurs amid regulators reviewing a number of spot crypto ETF applications, including those attributed to Dogecoin and XRP. Should this occur, the SEC delayed decisions on both this week, but there remains high expectation for approvals expanding beyond Bitcoin and Ethereum by the end of this year.

SUI, following the Sui ETF application garnering presence on the SEC’s website, subsequently saw its price rise by over 5% and 10.9% for the day. However, on Wednesday evening, the asset traded at $3.68. 

The current price is 80% higher than two weeks ago and peaked at $3.73 earlier in the day. But it remains well off its all-time high of $5.35 in January. Trading volume in SUI has consistently increased, according to CoinGecko, as institutional interest has surged.

Partnership With Sui Strengthens ETF Strategy

The 21Shares ETF application came alongside a strategic partnership with the Sui Foundation. The collaboration will involve joint research publications, product development, and future initiatives related to Sui’s growing ecosystem.

“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry,” said Duncan Moir, President of 21Shares. He stressed that the Sui roadmap was shaped by both the demand of investors and internal conviction.

The alliance represents 21Shares’ long-term commitment to the network as an important infrastructure partner as Sui scales globally. The ETF filing complements Sui’s existing Sui–linked product, which is already trading on Euronext Paris and Amsterdam. It comes with staking rewards, which no current U.S. crypto ETF offers.

21Shares Expands Its ETF Footprint in the U.S.

21Shares is expanding its U.S. ETF proposal list with the Sui application. The recent filing for spot ETFs tied to Dogecoin, XRP, and Polkadot indicates that the company will increasingly expand its crypto product portfolio to U.S. markets.

Currently, 21Shares offers spot Bitcoin and Ethereum ETF solutions to the U.S. market in partnership with Ark Invest. Last year, the firm also boosted its European Ethereum Core ETP by launching the Ethereum Core Staking ETP, which enables fund holders to stake assets. SUI is still among the top performers among the large-cap cryptos as of May 1.