In a significant development for institutional cryptocurrency adoption, asset manager Bitwise Asset Management has officially filed a registration statement (Form S-1) with the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) tied to the SUI token. This filing, submitted on December 18, 2025, represents one of the first formal attempts to create a spot ETF for a smart contract platform cryptocurrency beyond Bitcoin and Ethereum.
The proposed ETF would hold the underlying SUI tokens directly, allowing investors to buy and sell shares on traditional stock exchanges through their existing brokerage accounts. This structure is designed to provide a regulated, familiar, and convenient investment vehicle for those hesitant to use cryptocurrency exchanges or manage private keys, while offering the security and oversight of the traditional financial system.
Bitwise, a seasoned player in crypto index funds and an issuer of the landmark U.S. spot Bitcoin ETFs, is making a strategic bet on the Sui blockchain's long-term viability. The filing acts as a major institutional validation of the Sui ecosystem. However, the path to approval is not guaranteed. The SEC has historically been cautious about approving spot crypto ETFs for assets other than Bitcoin and Ethereum and will scrutinize Sui's market structure, liquidity, and potential susceptibility to manipulation. The review process is expected to be lengthy and could take months or longer.
This move could have a domino effect on the industry. If successful, it may pave the way for ETFs tied to other layer-1 smart contract platforms, accelerating the trend of bringing decentralized finance (DeFi) and Web3 assets into mainstream investment portfolios. The filing underscores a growing institutional narrative that recognizes the value of advanced blockchain platforms beyond the largest cryptocurrencies.
