Nasdaq Files Sui ETF, Rated as the Fastest-Innovative Blockchain
Nasdaq and 21Shares have filed an ETF that will hold Sui tokens, an altcoin from the Sui blockchain focused on instant transaction settlement. The Sui startup is backed by Andreessen Horowitz and FTX Ventures with a valuation of US$2 billion, while Sui's market capitalization is around US$11.5 billion.
Sui is a layer 1 blockchain with a parallel architecture that allows for simultaneous transaction execution of up to 100,000 per second. Sui tokens function as liquid assets, used for paying gas fees, staking, and network governance.
In Europe, Sui has already been traded through the 21Shares ASUI exchange-traded product with assets of US$165 million within 10 months. Institutional investors are increasingly interested after the custody and compliance aspects were met.
With this Exchange-Traded Fund (ETF), Nasdaq and 21Shares aim to simplify access to Sui for traditional investors and accelerate the adoption of innovative blockchain technology in conventional financial markets.
