Sui ETF on Nasdaq's Horizon
Nasdaq submits application for 21Shares SUI ETF listing, initiating SEC scrutiny process
It's full steam ahead for Sui's debut on the NASDAQ as 21Shares, a leading player in the digital assets space, has submitted a 19b-4 filing to the Securities and Exchange Commission (SEC). This filing kicks off the regulatory review process, following 21Shares' S-1 registration statement in April.
The proposed SUI Exchange-Traded Fund (ETF) signals mounting institutional interest in the Sui Layer 1 blockchain, renowned for its high throughput and developer-friendly architecture. Already, 21Shares offers a SUI exchange-traded product (ETP) in Europe, with listings on Euronext Paris and Amsterdam. The products have seen a surge in inflows in recent months, a testament to growing investor excitement.
According to Sui Foundation, over $300 million is allocated to SUI-based investment products globally[1]. With a successful US launch, broader access to the network and its token will be within reach. Interest in Sui hasn't been limited to 21Shares; Canary Capital, Franklin Templeton, VanEck, Grayscale, Ant Financial, and others have been actively involved with network-related initiatives since late 2024[1].
Kevin Boon, President of Mysten Labs, expressed his pride in helping 21Shares build toward a world where every investor can access SUI[1].
Sui's Q1 Performance
DeFi on the Sui blockchain gained significant traction during Q1, with the average daily DEX volume reaching a record $304.3 million, up 14.6% quarter-over-quarter[2]. Cetus and Bluefin dominated trading, while Kriya, DeepBook, and Turbos contributed to liquidity diversification.
However, the SUI token faced a challenging quarter, with its circulating market cap plunging 40.3% to $7.2 billion, double the broader market's 18.2% decline[2]. Despite a brief respite in mid-May, when SUI was trading near the $3.96 mark, increased volatility caused it to bottom out below $3.00 in early June, following market-wide drawdowns. Since then, SUI has rebounded, climbing back to approximately $3.50 by June 11[2].
For those eager to dive deeper into the world of crypto ETFs, Binance and Bybit offer attractive incentives for joining their platforms[3][4]. Keep an eye on developments related to Sui's US ETF launch as it moves through the SEC review process.
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- The proposed SUI Exchange-Traded Fund (ETF) on Nasdaq is a testament to the growing interest in blockchain technology, particularly in the DeFi space.
- Investing in SUI-based products, such as those offered by 21Shares, represents an opportunity for those looking to access the high-throughput Layer 1 blockchain.
- The surge in inflows to the 21Shares SUI exchange-traded product (ETP) in Europe indicates mounting investor excitement in the SUI network, which has been backed by multiple financial institutions, including Canary Capital, Franklin Templeton, VanEck, Grayscale, Ant Financial, and others.
