Sui Price Pops 9% as 21Shares Seeks SEC Approval for ETF

Crypto Asset Manager 21Shares applied for a trade show -related fund that follows the prize SkyAccording to a request to the US Securities and Exchange Commission on Wednesday.

The 21shares Sui ETF wants to broaden the access of investors to the native token of the Layer-1 network that is designed for fast transactions, which are called by some as a ‘Solana murderer’.

The submission called Coinbase as a custodian to protect the funds of investors, according to the declarationBut has not specified on which the fund would exchange, or his Ticker name.

In the meantime, the Swiss-based crypto-assistant has announced a “strategic partnership” with SUI, who entails product collaborations and research reports, according to one press release.

“Since our earliest research into sui, we believed that it could be one of the most exciting block chains in the industry,” said 21Shares president Duncan Moir. “We work on the basis of conviction, but also the demand from investors, and our planned route map with Sui is a reflection of both.”

SUI price has recently been on Wednesday to $ 3.73, an increase of 9.3% compared to the past day, according to Crypto Data Provider Coentecko. The price of the active has risen 80% in the last 14 days, but it will remain under a peak of $ 5.35 in January.

Canary Capital submitted For a similar Sui ETF with the Securities and Exchange Commission in March, which would be mentioned on the CBOE. The exchange later suggested A change of rule in the SEC that would enable the ETF of Canary to act, which would complete an important step in the approval process.

Although analysts expect the SEC Spot Crypto ETFs to be further approved than Bitcoin And Ethereum This year the supervisor must flash assets managers so green light. On Tuesday, the sec delayed decisions about Dogecoin And XRP ETFs to at least June.

21Shares itself requested ETFs in the US that follows the bargain price of Dogecoin” XRPAnd Polkadot.

Traded on the Euronext Amsterdam and Euronext Paris Exchanges, 21Shares offers A product training of SUI’s prize in Europe, which made his debut last July. The product offers investors rewards, unlike any crypto ETF in the US

Published by James Rubin