In a significant move for the altcoin ETF landscape, Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list a spot $SUI (SUI) exchange-traded fund (ETF) from crypto asset manager 21Shares, according to a May 23 filing.
The exchange submitted a 19b-4 form, which officially starts the SEC’s review process for the proposed listing. This follows 21Shares’ S-1 registration statement filed on April 30, a key step toward bringing the fund to U.S. markets. Both filings must be approved before the ETF can launch.
📅 The SEC now has 45 days to respond — either to approve, reject, or delay the application — and can extend the review up to 240 days, with a final decision due by January 18, 2026.
If approved, this would mark the first U.S.-listed ETF to track the Sui token, a Layer 1 blockchain often referred to as a potential “Solana killer.” SUI is currently the 13th-largest cryptocurrency by market cap, sitting at approximately $12.3 billion, still far behind Solana’s $92 billion.
The ETF, which would track the price of SUI, names BitGo and Coinbase Custody as custodians but has not yet disclosed a ticker or management fee.
📈 21Shares already offers a SUI exchange-traded product in Europe, listed on Euronext Paris and Amsterdam, contributing to a growing global appetite for structured crypto exposure. According to CoinShares, SUI-based ETPs now hold $317.2 million in AUM, with $2.9 million in inflows recorded between May 16 and May 24.
Meanwhile, Canary Capital is the only other asset manager to file for a spot SUI ETF in the U.S., having submitted its own 19b-4 and S-1 forms on April 8.
If greenlit, the 21Shares SUI ETF would expand investor access to one of the fastest-growing smart contract platforms — and offer another test for the SEC’s evolving stance on altcoin-based ETFs.
#SUI🔥
