Bitwise recordsdata with SEC to supply spot Sui ETF

Crypto asset supervisor Bitwise has filed with the US Securities and Trade Fee to launch an exchange-traded fund monitoring the Sui token.

The agency submitted a Kind S-1 submitting on Thursday to supply the “Bitwise Sui ETF,” initially registering the product with the SEC and taking step one towards launching the fund.

Bitwise outlined that the fund would observe the spot value of Sui (SUI), the native token of the layer 1 blockchain, the Sui Community.

Bitwise has but to point what the ETF’s ticker will likely be. Coinbase Custody will function the custodian for the product. 

Amid the flood of crypto ETFs being authorized by the SEC in 2025, a spot SUI ETF has but to hit the US market. Canary Capital and 21Shares each submitted filings in March and April this yr, with the evaluate deadline for the latter coming subsequent month.  

The SEC just lately authorized a 2x leveraged SUI ETF from 21Shares earlier this month, and has handed generic itemizing requirements that make it simpler for crypto ETFs to come back to market.

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The SUI token was launched in mid-2023 and is presently the thirty first largest cryptocurrency by market cap, with a price of $4.98 billion.

An ETF for the asset would probably be seen as a boon by the SUI neighborhood, with publicly traded ETFs monitoring the asset driving vital demand if profitable. 

Bitwise retains upping ETF publicity 

Earlier this month, Bitwise additionally added SUI to its 10 Crypto Index ETF on the New York Inventory Trade, highlighting that the blockchain is “designed to make digital asset possession quick, non-public, safe, and accessible.”