21Shares Files for SUI ETF as Token Surges 4%

Swiss asset manager 21Shares has filed an S-1 registration for a SUI exchange-traded fund (ETF) with the SEC, sparking a 4% price increase for SUI, which is currently trading at $3.67. During Sui’s annual Basecamp conference, Duncan Moir, President of 21Shares, reiterated his long-held belief in SUI’s potential to become one of the most exciting blockchains. The filing comes just six weeks after Canary Capital submitted similar paperwork for a SUI ETF, highlighting growing institutional interest in the SUI ecosystem. Developed by former Meta engineers, SUI is a layer-1 blockchain with a market cap of $11.8 billion, positioning it just outside the top 10 largest cryptocurrencies worldwide.