Bitwise Asset Management has filed a Form S-1 with the U.S. Securities and Exchange Commission to launch a spot SUI ETF, expanding its growing lineup of crypto investment products. The proposed fund will provide full spot exposure to SUI, the native token powering the Sui blockchain.
With this filing, Bitwise becomes the fourth asset manager to pursue a spot SUI ETF, following earlier filings from Grayscale, 21Shares, and Canary Capital. The firm already offers spot ETFs tied to Bitcoin, Ethereum, Solana, XRP, and Dogecoin, positioning SUI as a potential sixth addition.
According to the filing, Coinbase will serve as custodian, and the ETF will support in-kind creations and redemptions, allowing token-based settlements instead of cash. Bitwise also plans to incorporate staking to generate additional SUI rewards. Despite the development, SUI prices showed little reaction and continued trading near recent lows.
You need to login in order to Like
Leave a comment