The firm 21Shares filed a new ETF with the SEC that will offer institutional investors a secure and regulated alternative in digital assets.

The crypto fund manager 21Shares advanced with its proposal to launch an ETF based on the Sui protocol, in partnership with Nasdaq, the renowned exchange specialized in technology and digital financial assets.

To formalize this step, Nasdaq submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC), a key document to initiate the regulatory process and request official approval for the new fund.

Although the ETF will be managed by 21Shares, the agreement states that Nasdaq will be able to list and trade the fund's shares on its platform, expanding institutional exposure to this innovative blockchain protocol.

With this filing, the review period by the SEC is activated, while 21Shares positions itself as the second firm to propose a Sui ETF, following the previous request made by Canary Capital.

The potential Sui ETF boosts the price of the token.

The digital asset manager 21Shares officially announced its intention to launch an ETF linked to the SUI token, after filing Form S-1 with the SEC in early May, aiming to attract institutional investment.

This fund will offer direct exposure to the native token of the Sui network, which generated an immediate impact on the market: the asset's price rose by 5%, reaching 3.45 dollars.

The rebound represented a significant recovery for the token, which had been affected by the cyberattack on Sui's main DEX, which reported losses exceeding 200 million dollars in digital assets.

Despite that attack, SUI remains on a positive trend with a cumulative increase of 4% in the last 30 days, although it also records a decline of 5% in the last seven days.

Interest in the ecosystem remains high, even after the hack of Cetus for 223 million dollars, as the team behind Sui froze 160 million dollars and offered a 6 million dollar reward.

Rapid containment measures helped mitigate part of the damage, while the crypto community appreciated the immediate response of the team, which showed firmness in the face of a serious threat to the network.

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