21Shares has applied for an exchange-traded fund (ETF) focused on Sui, a layer-1 blockchain noted for high-speed transactions, often referred to as a potential competitor to Solana. This filing with the U.S. Securities and Exchange Commission (SEC) is aimed at expanding access to Sui’s native token. Following the news, Sui's price surged by 9.3% to $3.73, marking an 80% increase over the past two weeks, although it remains below its January peak of $5.35. The ETF application mentions Coinbase as a custodian for investor funds but does not specify the trading exchange or ticker symbol. This move follows a similar application by Canary Capital for a Sui ETF listed on the Cboe. 21Shares stated their strategic partnership with Sui includes product collaborations and research, reinforcing their commitment to the blockchain's potential. The overall crypto market has also seen Bitcoin surpassing $96,000 recently, indicating a broader bullish trend in the sector.

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