21Shares, a prominent digital asset manager, has filed an S-1 statement with the U.S. SEC to introduce a spot SUI ETF.
The fund seeks to provide investors with direct exposure to SUI, the native crypto of the Sui network.
As outlined in the filing, the product seeks to hold SUI tokens in custody by Coinbase, basing its daily net asset value on a benchmark index reflecting the spot market price of SUI.
ETF Structure and Investment Strategy
Importantly, data confirms that the fund will not stake any portion of its holdings, ensuring no yield generation through network participation.
In addition, unlike other crypto ETFs, the fund will avoid utilizing leverage, derivatives, or similar financial instruments. Its aim is to closely reflect the value of SUI tokens in U.S. dollars, with share creations and redemptions processed in cash rather than in-kind.
This approach ensures a straightforward, transparent structure for investors looking for a stable means to access SUI.
Interestingly, the latest push from 21Shares for a SUI ETF is one of several efforts to launch the product. Specifically, last month, prominent exchange Cboe BZX filed with the SEC to list the proposed Canary Capital SUI ETF product.
Partnership with Sui Network
Meanwhile, in addition to the ETF filing, 21Shares has entered into a strategic partnership with the Sui network. This collaboration aims to leverage the growing global interest in the Sui ecosystem.
According to 21Shares, the partnership reflects their long-standing belief in Sui’s potential as a major blockchain platform. Federico Brokate, Head of U.S. Business at 21Shares, emphasized the importance of this partnership in aligning with Sui’s technical foundation, decentralized finance (DeFi) ecosystem, and developer community.
Recent Moves and Partnerships
Also, 21Shares has been actively expanding its ETF offerings in the U.S. In recent weeks, the company has filed applications for spot crypto ETFs involving various assets such as Dogecoin and Polkadot.
Notably, 21Shares already provides spot Bitcoin and Ethereum ETFs in the U.S. in collaboration with Ark Invest.
21Shares AG also revealed the launch of an upgraded version of its European-listed Ethereum Core ETP late last year. The enhanced product, Ethereum Core Staking ETP, introduces staking capabilities for its fund holders.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
