21Shares, a Swiss digital asset management company, announced that it has officially submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) based on the SUI digital currency.

🔍 News Details:

Type of fund: Exchange-Traded Fund (ETF) based on the spot price of the SUI currency, meaning it will reflect the actual price of the currency without using futures contracts or financial derivatives.

Objective: To provide a regulated investment vehicle for traditional investors to access the SUI currency without the need to directly engage with cryptocurrency platforms.

Impact of the announcement: Following the announcement of the application submission, the price of the SUI currency rose by 4% to reach $3.67, reflecting investor interest in this development.

About the SUI currency: The SUI currency is a digital currency affiliated with a layer one blockchain network, developed by former engineers at Meta, and is characterized by fast transaction execution and high scalability.#StablecoinPayments #BinanceAlphaAlert