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

Crypto asset manager 21Shares applied for an exchange-traded fund tracking the price of The 21Shares Sui ETF aims to broaden investors’ access to the native token of the layer-1 network designed for high-speed transactions, which has been dubbed by some as a “Solana Killer.”The filing  named Coinbase as a custodian to safeguard investors’ funds, according to the The Swiss-based crypto asset manager meanwhile announced a “strategic partnership” with Sui, which will entail product collaborations and research reports, according to a “Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry,” 21Shares President Duncan Moir said. “We operate based on conviction but also investor demand, and our planned roadmap with Sui is a reflection of both.”The price of Sui recently spiked on Wednesday to $3.73, a 9.3% increase over the past day, according to crypto data provider Canary Capital Although analysts expect the SEC to approve spot crypto ETFs beyond 21Shares itself has applied for ETFs in the U.S. tracking the spot price of Traded on the Euronext Amsterdam and Euronext Paris exchanges, 21Shares Edited by James Rubin