Crypto asset management firm Bitwise has officially filed with the U.S. Securities and Exchange Commission (SEC) to debut an exchange-traded fund (ETF) associated with the Sui token. This move places Bitwise in competition with entities like Canary Capital and 21Shares, who are also seeking to introduce similar funds.
In its official documentation, the firm submitted a Form S-1 for the product dubbed the “Bitwise Sui ETF,” marking a significant step in the fund’s development. The ETF aims to reflect the spot price of Sui, the native token of the Sui Network, a layer-1 blockchain.
Details regarding the ETF’s designated ticker remain undisclosed. For this endeavor, Coinbase Custody will act as the custodian for the ETF.
Bitwise’s recent addition of Sui to its crypto index fund.
Source: Bitwise
Despite a surge in crypto ETF approvals by the SEC during 2025, a spot SUI ETF has yet to be launched in the U.S. Earlier filings by Canary Capital and 21Shares were completed in March and April, with the latter’s review deadline anticipated next month.
Recently, the SEC granted approval for a 2x leveraged SUI ETF from 21Shares, alongside the establishment of new broader listing standards aimed at facilitating crypto ETF introductions to the market.
The SUI token, which made its debut in mid-2023, currently ranks as the 31st largest cryptocurrency, holding a market cap worth $4.98 billion. The establishment of an ETF related to SUI is likely to be viewed favorably by the SUI community, with the potential of mainstream ETFs fostering substantial demand.
Bitwise Continues Expanding ETF Offerings
This month, Bitwise has also integrated SUI into its 10 Crypto Index ETF listed on the New York Stock Exchange, underscoring that the Sui blockchain is designed for efficient digital asset management. Furthermore, the firm recently launched a spot XRP ETF and maintains existing spot Bitcoin and Ether ETFs.
Bitwise anticipates the crypto ETF sector will see rapid growth by 2026. Ryan Rasmussen, a Bitwise researcher, noted in a recent interview that he expects more than 100 new products to emerge in the next year, stating, “From here we are going to accelerate forward at ridiculous speed.”
