NASDAQ has filed a spot Sui Exchange-Traded Fund (ETF) in the US for Crypto Asset Manager 21Shares, starting the review process of the Securities and Exchange Commission.
Stock Market 23 May 19 B -4 AdmissionWhich asks SEC to list the 21shares needle ETF, after its conclusion of 21 mischief on April 30 S -1 registration details For SEC, which asked the regulator to approve the trade of the proposed fund.
SUI requires both regulatory filing (Needle) Kick the review process of SEC with tracking funds for GI Live, 19B -4 filing. The agency must decide that the application should be accepted, rejected or delayed within 45 days and it can delay its decision several times for a maximum review period of 240 days.
SEC should decide on the latest 21Shares application by January 18, 2026.
21Shares proposed Bitgo and Coincidence custody As a custodian to keep the needle from the trust, however, the filing did not include details on the management fee or ticker.
Canary capital The only other asset manager is who is 19B-4 presented And S-1 filing to list the form on 8 April, to list a spot needle ETF.
21Shares said in its 19B-4 filing that SUI is the token powers Needle network And the four main objectives meet: it can be stake to earn the award, is used Pay gas fee, Act as a liquid property for SUI applications and act as a governance token.
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The SuI ecosystem focuses largely on decentralized applications and is dubbed by a capacity Solana killer,
The needle is the 13th largest cryptocurrency, but its $ 12.3 billion market cap is a fraction of Solana (Fifth note of musical scale) $ 92 billion market cap, According For coingecko.
The purpose of 21Shares is to add to Sui Prasad
21Shares already lists a needle exchange-traded product in Europe, Euronext Paris And Euronext Amsterdam Stock Exchange.
Those listings have contributed to SUI-based exchange-traded products, which have $ 317.2 million in property under their management (AUM), According May 26 report from Coinshares.
Between 16 May and 24 May needle ETP increased by $ 2.9 million, and only bitcoin trails (BTC), Ether (ET), Solana and XRP (XRP) In terms of pure property.
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