Bitwise files with SEC to offer spot Sui ETF
Bitwise has filed an initial registration with the SEC to launch a spot exchange-traded fund tracking the Sui token.Summary
Crypto asset manager Bitwise submitted a Form S-1 filing to the US Securities and Exchange Commission (SEC) to launch the "Bitwise Sui ETF," which will track the spot price of Sui (SUI), the native token of the Sui Network. Coinbase Custody is set to be the custodian for the proposed fund. This move places Bitwise in competition with Canary Capital and 21Shares, who have also filed for spot SUI ETFs. Although the SEC recently approved a 2x leveraged SUI ETF from 21Shares, a spot SUI ETF has not yet reached the US market. Bitwise has recently increased its exposure to SUI, adding it to its 10 Crypto Index ETF, and the firm anticipates significant growth in the crypto ETF market, potentially seeing over 100 products launch next year.
(Source：Cointelegraph)