21Shares Files for Spot SUI ETF in the U.S., Partners with Sui Network

The proposed ETF would offer investors direct exposure to SUI, the native token of the Sui Layer 1 blockchain.

According to the filing, the ETF’s holdings will be secured by Coinbase, with daily net asset values (NAV) calculated using a benchmark index that reflects the spot market price of SUI. Notably, all share creations and redemptions will be handled in cash rather than in-kind transfers.

21Shares also announced a “strategic partnership” with the Sui network in conjunction with the ETF proposal. While other crypto ETFs have integrated staking features to generate passive returns, 21Shares stated that this fund will not stake any portion of its SUI holdings.

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This move positions 21Shares as a frontrunner in bringing less-established blockchain assets to U.S. markets through regulated investment products, potentially paving the way for wider institutional adoption of the Sui ecosystem.

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