Bitwise Files For Spot SUI ETF With SEC
Bitwise has filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that would track the spot price of the Sui (SUI) token, the native cryptocurrency of the Sui Network blockchain. The proposed "Bitwise Sui ETF" would use Coinbase Custody as its custodian. The ticker for the ETF has not yet been announced. No spot SUI ETF currently exists in the US, although competing filings have been made by Canary Capital and 21Shares, with the SEC recently approving a 2x leveraged SUI ETF from 21Shares. The SUI token, launched in mid-2023, is the 31st largest cryptocurrency by market capitalization at $4.98 billion. Bitwise recently added SUI to its 10 Crypto Index ETF and has also introduced spot ETFs for XRP, Bitcoin, and Ether. The firm anticipates rapid growth in the crypto ETF market, projecting over 100 product launches in 2026.
