SUI, a layer-1 blockchain developed by former Meta engineers, has seen a 4% increase in its trading price to $3.67 following the asset manager 21Shares filing for an SUI exchange-traded fund (ETF) with the SEC. The firm’s president, Duncan Moir, expressed confidence in SUI's potential during his speech at the annual Basecamp conference, highlighting the blockchain's promising developments. With a current market capitalization of $11.8 billion, SUI is positioned just outside the top 10 largest cryptocurrencies. The filing by 21Shares comes after a previous application for a SUI ETF, indicating growing institutional interest in the cryptocurrency market as more asset managers seek to offer diverse investment vehicles in this space.

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