21Shares has filed to list a spot Sui ETF on Nasdaq, joining Canary Capital in the race to bring Sui to the U.S.market. On May 23, 21Shares submitted the necessary 19b-4 form to the SEC, starting the review process.
Coinbase Custody and BitGo will manage the fund’s assets. The SEC must decide on the application by January 18 next year, though it can extend the timeline within a 240-day window.
21Shares already offers a Sui Staking ETP in Europe, trading on Euronext Paris and Amsterdam.This ETP provides a 1.52% staking yield and manages over $168 million in assets.
Canary Capital is also pursuing a spot Sui ETF. They registered a Sui trust in Delaware and submitted their filings to the SEC. If approved, these ETFs would debut in the U.S. market for the first time.
Despite the positive news, SUI’s price fell nearly 8% on May 23 and continued to decline, hitting a low of $3.40 on May 25. It’s now trying to recover,trading at $3.70,with the EMA 20 acting as resistance.
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