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21Shares files for US spot Sui ETF after European launch

Major European cryptocurrency investment firm 21Shares has filed for a spot Sui exchange-traded fund (ETF) in the United States, marking another step in its expansion to the US market.

21Shares on April 30 submitted the Form S-1 registration for a spot Sui (SUI) ETF to the US Securities and Exchange Commission (SEC).

Called the 21Shares Sui ETF, the proposed ETF will issue common shares of beneficial interest by seeking to track the performance of SUI held by 21Shares’ US subsidiary.

The US filing comes a year after 21Shares started trading the 21Shares Sui Staking exchange-traded product in Europe in July 2024, with its first listings on Euronext Paris and Euronext Amsterdam.

No ticker or planned exchange yet

The 128-page filing does not specify on which US exchange the new SUI ETF is expected to debut trading. The ETF also doesn’t have a ticker symbol yet.

“There is no certainty that there will be liquidity available on the exchange or that the market price will be in line with the NAV [net asset value] or the principal market NAV at any given time,” it states.

21Shares files for US spot Sui ETF after European launch
An excerpt from the S-1 Form for 21Shares Sui ETF. Source: SEC

The filing highlighted that the ETF aims to provide exposure to SUI by holding the tokens directly, without utilizing leverage, derivatives or engaging in speculative trading.

Canary Capital was the first to file for Sui ETF

21Shares is not the first company to file for a Sui ETF in the US. Canary Capital, a US-based crypto investment firm, filed a Form S-1 registration for a spot Sui ETF on March 17.

Subsequently, Cboe BZX Exchange asked US regulators for clearance to list Canary’s Sui ETF in early April.

Sui-based ETPs have already been trading in Europe, with some of such products including 21Shares Sui staking ETP and VanEck Sui ETP.

Related: More than 70 US crypto ETFs await SEC decision this year — Bloomberg

According to the latest CoinShares update, Sui-based ETPs had $400 million in assets under management as of April 25.

Europe, SEC, United States, ETF, SUI
Sui (SUI) ETP products had $400 million in AUM as of April 25, 2025. Source: CoinShares

Year-to-date, Sui ETPs have seen $72 million of inflows, with a fresh $20.7 million coming in just last week.

The latest ETF filing by 21Shares is yet another product joining a massive list of crypto ETFs awaiting the SEC’s decision.

Europe, SEC, United States, ETF, SUI
Source: Eric Balchunas

According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, there were at least 72 new crypto ETF filings on the SEC’s table as of May 1.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26

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EU eyes euro stablecoins to challenge dollar monopoly

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EU eyes euro stablecoins to challenge dollar monopoly

EU eyes euro stablecoins to challenge dollar monopoly

The change in rhetoric followed a US dollar-pegged stablecoin boom in 2025 due to the passage of key legislation in the United States.

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Bybit secures regulatory approval in UAE

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Bybit secures regulatory approval in UAE

Bybit secures regulatory approval in UAE

The license came eight months after the regulator granted the company in-principle approval, and a few weeks after Bybit secured a non-operational license for Dubai.

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Starmer denies ministers involved in China spy trial collapse

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Starmer denies ministers involved in China spy trial collapse

Sir Keir Starmer has denied any ministers were involved in the collapse of the trial of alleged Chinese spies.

Christopher Cash, 30, a former parliamentary researcher, and teacher Christopher Berry, 33, were accused of spying for China, but weeks before their trial was due to begin, it was dropped.

Berry, of Witney, Oxfordshire, and Cash, of Whitechapel, east London denied the allegations.

Politics Latest: Starmer “less interested” in Blair than ceasefire

Sir Keir, his ministers and national security adviser Jonathan Powell have faced accusations they were involved in the trial being dropped.

The prime minister has maintained that because the last Conservative government had not designated China as a threat to national security, his government could not provide evidence to that effect, which the director of public prosecutions Stephen Parkinson said was required to meet the threshold for prosecution.

Mr Parkinson had blamed ministers for failing to provide the crucial evidence needed to proceed.

More on China

During a trade visit to India, the prime minister was asked whether any minister, or Mr Powell, were involved in the decision not to provide the Crown Prosecution Service (CPS) with evidence that, at the time of the alleged offences, China represented a threat to national security.

He replied: “I can be absolutely clear no ministers were involved in any of the decisions since this government’s been in in relation to the evidence that’s put before the court on this issue.”

He did not mention Mr Powell specifically.

Read more:
Blame game over trial collapse. Who’s right? Who’s wrong?

Christopher Cash (left) and Christopher Berry had the charges against them dropped in September. Pics: Reuters
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Christopher Cash (left) and Christopher Berry had the charges against them dropped in September. Pics: Reuters

Earlier this week, Mr Parkinson took the unusual step of sending MPs a letter to say the government had refused to label Beijing an enemy, which led to the case being dropped.

Sir Keir reiterated his line that the case could only rely on evidence from the period the pair were accused of spying, from 2021 to 2023, when the Conservatives were in government.

He said: “The evidence in this case was drawn up at the time and reflected the position as it was at the time,” the PM said in India.

“And that has remained the situation from start to finish.

“That is inevitably the case because in the United Kingdom, you can only try people on the basis of the situation as it was at the time.

“You can’t try people on the basis of the situation, as it now is or might be in the future, and therefore, the only evidence that a court would ever admit on this would be evidence of what the situation was at the time.

“It’s not a party political point. It’s a matter of law.”

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Is China an enemy to the UK?

Sir Keir’s assertion has been called into question by former top civil servants and legal experts.

Mark Elliott, professor of public law at the University of Cambridge, told Sky News there is no legal requirement for a country to be declared an enemy for someone to be tried for breaching the Official Secrets Act.

He said the current government was “cherry picking” what the previous government had said about China to claim they did not regard them as a threat to national security.

However, there are several examples of the Tory government saying China was a national security threat during the time Berry and Cash were accused of spying.

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