Sui Price Pops 9% as 21Shares Seeks SEC Approval for ETF
21Shares has filed for an exchange-traded fund (ETF) that will track the price of Sui, a native token of a high-speed layer-1 network. Coinbase is named as the custodian for the fund, but details on the trading exchange and ticker symbol are not provided. A strategic partnership with Sui will involve product collaborations and research reports. The price of Sui rose to $3.73, marking a 9.3% increase in one day and an 80% rise over two weeks, although it remains below its January peak of $5.35. Canary Capital previously filed for a similar Sui ETF, which is progressing through the SEC approval process. Analysts anticipate that the SEC may approve more spot crypto ETFs this year, despite recent delays on Dogecoin and XRP ETFs. 21Shares also has applications for ETFs tracking Dogecoin, XRP, and Polkadot in the U.S. The company offers a product tracking Sui's price in Europe, providing staking rewards not available in U.S. crypto ETFs.
