- Bitwise filed a spot Sui ETF proposal as competition grows among issuers seeking early approval.
- No spot Sui ETF trades in the US despite rising interest and multiple active SEC filings.
- Sui gains institutional attention as Bitwise expands its regulated crypto ETF offerings.
Bitwise has filed an initial registration with the US Securities and Exchange Commission for a spot exchange traded fund linked to Sui. The filing places the crypto asset manager directly into a growing competition for regulated SUI investment products.
The Form S-1 submission was made on Thursday and marks the formal start of the approval process. The proposed product is called the Bitwise Sui ETF and would track the spot price of SUI. SUI is the native token of the Sui Network, a layer one blockchain introduced in mid 2023. The filing arrives as regulators continue reviewing a wave of digital asset ETFs.
ETF Structure and Regulatory Filing
The registration outlines a fund designed to follow SUI’s market price without derivatives exposure. Investors would gain price exposure through traditional brokerage accounts. Bitwise has not yet disclosed the ETF’s trading ticker. Coinbase Custody is expected to safeguard the fund’s underlying assets.
The filing remains subject to SEC review and approval. Still, it reflects steady engagement between crypto issuers and regulators. Generic listing standards introduced this year have eased entry for new crypto ETFs. As a result, filings have increased across multiple digital assets.
Competitive Pressure in the SUI ETF Race
No spot SUI ETF currently trades in the United States despite rising interest. Canary Capital submitted a similar filing earlier this year. 21Shares followed with its own application shortly afterward. The SEC review deadline for the 21Shares filing is expected next month. Earlier this month, regulators approved a leveraged SUI ETF from 21Shares. That decision added momentum to spot ETF expectations. Several issuers now seek early positioning within the same asset category. The growing list highlights intensified competition around SUI based products.
SUI Market Position and Network Focus
SUI currently ranks as the thirty first largest cryptocurrency by market capitalization. Its market value stands near $4.98 billion. The Sui Network focuses on fast transaction processing and scalable digital ownership. The network targets broader use cases across decentralized applications. Spot ETFs are often viewed as access points for traditional investors. Such products typically increase visibility for emerging assets. Market participants continue monitoring regulatory signals tied to SUI approvals. The token’s position has drawn increased institutional attention this year.
Bitwise Expansion Across Crypto ETFs
Bitwise continues expanding its footprint within regulated crypto investment products. Earlier this month, the firm added SUI to its Bitwise 10 Crypto Index ETF. That index fund trades on the New York Stock Exchange. The move increased SUI exposure within diversified portfolios.
Bitwise already operates spot Bitcoin and Ether ETFs in the US market. The firm also launched a spot XRP ETF earlier this year. These products represent a larger approach that is related to regulatory transparency. Industry projections indicate a fast growth of ETF in the year 2026. Analysts anticipate scale and market share to be sought after by issuers. As filings increase, regulatory scrutiny remains a central factor.
