Swiss asset management firm 21Shares has officially filed for a SUI exchange-traded fund (ETF) with the SEC.

• The current trading price of SUI is $3.68, reflecting a 10.9% increase in the last 24 hours, and a 5% rise since the ETF filing went public.

“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares, during his address at Sui’s annual Basecamp conference.
“Sejak riset awal kami tentang Sui, kami yakin ini bisa menjadi salah satu blockchain paling menarik di industri, dan kami melihat tesis itu terealisasi.”

SUI is a layer-1 blockchain developed by ex-Meta engineers and currently holds a market cap of $11.8 billion, positioning it just outside the list of the top 10 largest cryptocurrencies.

This filing follows a similar submission from Canary Capital, which proposed launching a SUI ETF six weeks earlier.

Additionally, the Sui Foundation recently disclosed a partnership with Fireblocks aimed at enhancing the institutional framework throughout the network, enabling institutions to utilize SUI custody while gaining access to decentralized finance (DeFi) protocols.