Asset manager 21Shares has filed for an SUI ETF, becoming the second after Canary Capital and excluding asset staking.
Details on ETF Filing
According to the filing with the SEC, Coinbase will hold custody of the assets, though it has not disclosed which exchange the new SUI ETF will trade on. The ticker symbol for the new ETF is also yet to be revealed.
Strategic Partnership with Sui Network
21Shares has announced a strategic partnership with the Layer-1 network Sui, aimed at expanding access and integrating into the growing crypto ecosystem. 21Shares president Duncan Moir noted that this collaboration will cover product partnerships and research reports.
Market Reaction to Filing and Partnership
As of this writing, SUI is trading at $3.67, showing a 7.61% increase in the last 24 hours. Trading volume rose by 16.03%, reaching $1.61 billion, signaling increased investor interest.
Filing for an ETF is just the first step towards realization, and combined with a strategic partnership, it may contribute to the growth and wider adoption of SUI.
