21Shares Files for SUI ETF, Tokens Soar
Oliver Knight | Edited by Parikshit Mishra Updated May 1, 2025, 4:14 PM Published May 1, 2025, 10:55 AM
Swiss investment firm 21Shares has filed a Form S-1 with the SEC to create the SUI ETF.
SUI shares are currently trading at $3.68, up 10.9% in the last 24 hours and up 5% since the SEC filing.
“From the earliest stages of our research into Sui, we were confident that it had the potential to become one of the most attractive blockchains in the industry, and that belief has been borne out,” said Duncan Moir, president of 21Shares, speaking at Sui’s annual Basecamp conference.
SUI is a first-tier blockchain created by former Meta engineers. The network’s token has a market cap of $11.8 billion, putting it outside the top 10 cryptocurrencies.
21Shares’ filing comes just six weeks after Canary Capital filed paperwork to launch the SUI ETF.
The Sui Foundation also announced on Thursday that it had signed an agreement with Fireblocks aimed at improving the infrastructure for institutional users across the network.
The integration will allow institutions to interact with Sui using SUI’s native storage features and access to DeFi protocols on the network.
UPDATE (May 1, 2025, 13:41 UTC): Added details about the Fireblocks deal in the sixth and seventh paragraphs.
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