Sui Price Pops 9% as 21Shares Seeks SEC Approval for ETF

Unlike its European counterpart, 21Shares’ Sui ETF would not offer staking rewards in the U.S.

In brief

21Shares filed for a Sui ETF in the U.S.

21Shares announced a “strategic partnership" with Sui.

The token’s price jumped 9% to $3.69.

Crypto asset manager 21Shares applied for an exchange-traded fund tracking the price of Sui, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.

The 21Shares Sui ETF aims to broaden investors’ access to the native token of the layer-1 network designed for high-speed transactions, which has been dubbed by some as a “Solana Killer.”

The filing  named Coinbase as a custodian to safeguard investors’ funds, according to the registration statement, but did not specify an exchange on which the fund would trade, or its ticker name.

The Swiss-based crypto asset manager meanwhile announced a “strategic partnership” with Sui, which will entail product collaborations and research reports, according to a press release.