Nasdaq Seeks Approval for 21Shares Sui ETF

Nasdaq has filed a 19b-4 form with the SEC to list the 21Shares SUI ETF on May 23, 2025.

The Nasdaq filing represents a potential expansion in crypto ETFs, prompting interest in how the SEC will respond.

Nasdaq’s recent 19b-4 filing for 21Shares Sui ETF seeks to introduce a new cryptocurrency ETF to the market. The filing comes amid growing interest in assets beyond Bitcoin and Ethereum. Sun Kim of Nasdaq led the submission process.

“This filing represents a significant step forward in the quest to offer diverse cryptocurrency investment options, with the 21Shares SUI ETF set to track the performance of the Sui blockchain.” — Sun Kim, Senior Associate General Counsel, Nasdaq

The ETF aims to track SUI’s performance using the CF Sui-Dollar Reference Rate Index. This strategy could increase interest in the Sui network, a burgeoning Layer 1 blockchain, highlighting a trend beyond established cryptocurrencies.

The potential approval of the 21Shares Sui ETF might enhance demand for the Sui network and broader blockchain technology. If approved, it could mark a significant step in expanding available ETFs focusing on scalable smart contracts and DeFi applications.

Experts observe that 21Shares’ strategy focuses on innovative blockchain assets amid high-profile partnerships. The filing might prompt increased regulatory consideration of crypto asset integration in traditional finance.

This development could influence financial markets and encourage institutional adoption of diverse crypto assets, aligning with a shift in market dynamics. The outcome may affect regulatory frameworks and technology adoption rates globally.