In a recent regulatory filing, Bitwise has officially joined the effort to create an exchange-traded fund for SUI. The index fund manager submitted documents for the Bitwise SUI ETF to the US Securities and Exchange Commission.
Per the filing, the fund is designed to track the value of SUI, accounting for the trust’s costs and liabilities. Asset custody will be handled by Coinbase Custody Company, LLC. The filing did not reveal the prospective ticker or the sponsor’s fee.
Other asset managers are on a similar track, awaiting SEC decisions on their own applications. Canary Capital was the first to file for a SUI ETF in March, with 21Shares submitting shortly after. While those funds await approval, 21Shares debuted a leveraged SUI ETP this month.
SUI, with a market cap ranking of 31, serves as the native token for the Sui Layer 1 blockchain. This network is a successor project stemming from Meta’s discontinued Diem stablecoin venture.
