Bitwise joins race to launch SUI ETF with latest SEC filing

Crypto index fund manager Bitwise has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the Bitwise SUI ETF, aiming to track the value of SUI tokens, minus operational expenses. Coinbase Custody Company, LLC is designated as the custodian. Bitwise joins a growing field of firms, including Canary Capital and 21Shares, seeking SEC approval for a spot SUI ETF, although 21Shares recently launched a leveraged SUI product. SUI is the native asset of the Sui Layer 1 blockchain, spun out of Meta's former Diem project, and is currently ranked 31st by market capitalization. This move occurs as the SEC, under Chair Paul Atkins, appears to be shifting toward regulatory clarity for digital assets, enabling more efficient market entry for certain ETFs.

(Source：The Block)