21Shares Seeks to Launch a Spot SUI ETF

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21Shares, a leading digital asset manager, has submitted an S-1 statement to the US SEC to launch a spot SUI ETF.

The fund aims to offer investors direct exposure to SUI, the native cryptocurrency of the Sui network.

According to the filing, Coinbase will custody the SUI tokens, with the daily net asset value based on an index reflecting the spot market price of SUI.

The fund will not stake any of its holdings, ensuring no yield generation through network participation.

Unlike other crypto ETFs, it will avoid using leverage, derivatives, or similar instruments, aiming to closely mirror the value of SUI tokens in US dollars. Share creations and redemptions will be processed in cash rather than in-kind.

This approach provides a straightforward, transparent structure for investors seeking stable access to SUI.