21Shares files for spot Sui ETF in United States

Major European cryptocurrency investment firm 21Shares filed for a spot Sui exchange-traded fund (ETF) in the United States on April 30, marking another step in its expansion to the US market. The proposed ETF, called the 21Shares Sui ETF, will track the performance of SUI held by 21Shares' US subsidiary. This filing comes a year after 21Shares started trading the 21Shares Sui Staking exchange-traded product in Europe in July 2024. The 128-page filing does not specify on which US exchange the new SUI ETF is expected to debut trading, and the ETF also doesn't have a ticker symbol yet. The filing highlighted that the ETF aims to provide exposure to SUI by holding the tokens directly, without utilizing leverage, derivatives or engaging in speculative trading. Year-to-date, Sui ETPs have seen $72 million of inflows, with a fresh $20.7 million coming in just last week, according to Bloomberg ETF analysts Eric Balchunas and James Seyffart. 21Shares is not the first company to file for a Sui ETF in the US. Canary Capital, a US-based crypto investment firm, filed a Form S-1 registration for a spot Sui ETF on March 17. As of May 1, there were at least 72 new crypto ETF filings on the SEC's table, according to Bloomberg ETF analysts Eric Balchunas and James Seyffart.