Nasdaq Advances 21Shares’ Sui ETF Bid with SEC Filing

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Nasdaq has taken a key step toward launching a spot Sui ETF by submitting a 19b-4 filing on behalf of crypto asset manager 21Shares. The move triggers the SEC’s formal review process, which could take up to 240 days.

21Shares had previously filed an S-1 registration on April 30, outlining its proposed ETF. The SEC now has 45 days to issue an initial decision, though delays could push the final deadline to January 18, 2026.

The filing designates BitGo and Coinbase Custody as SUI custodians but omits details on fees or a ticker. Canary Capital remains the only other firm seeking a Sui ETF, having filed in early April.

21Shares highlighted SUI’s utility—staking rewards, gas payments, liquidity, and governance—as key to the ETF’s value proposition.