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.
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.
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.
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
Japan’s Finance Minister Katsunobu Kato said crypto deserves a spot in portfolios, while pledging to build a sound trading environment for the sector.
The Avalanche ETF filing marks another step in Grayscale’s expanding suite of crypto investment products, following XRP and DOGE filings earlier this year.
Sir Keir Starmer faces mounting pressure over the small boats crisis after protests outside asylum hotels continued over the bank holiday weekend.
A poll suggested that voters believe the prime minister is failing to grip the problem, despite his government setting out measures to speed up removals.
It comes as Green Party co-leader Carla Denyer warned that “the far right feels emboldened and validated” by other political parties.
So far this year a record 28,076 people have made the perilous journey across the English Channel in small boats, 46% more than in the same period in 2024.
Like many other European countries, immigration has increasingly become a flashpoint in recent years as the UK deals with an influx of people fleeing war-torn and poorer countries seeking a better life.
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Asylum hotel protests swell in Norwich
Official figures released earlier this month showed a total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
There were 32,059 asylum seekers in UK hotels by the end of the same month.
Protests and counterprotests at sites housing asylum seekers continued over the weekend and the government is braced for further legal fights over the use of hotels.
Police separate protesters in Liverpool
Read more:
Fast-track asylum appeals process to be introduced
A YouGov poll for The Times found that 71% per cent of voters believe Sir Keir is handling the asylum hotel issue badly, including 56% of Labour supporters.
The survey of 2,153 people carried out on August 20-21 found 37% of voters viewed immigration and asylum as the most important issue facing the country, ahead of 25% who said the economy and 7% who said the health service.
Ms Denyer, who is MP for Bristol Central, condemned threats of violence in the charged atmosphere around immigration.
“The far right feels emboldened and validated by other political parties dancing to their tune.
“The abuse I’ve been sent has got noticeably worse in the last few months, escalating in some cases to violent threats, which are reported to the police.
“It doesn’t matter how much you disagree with someone, threats of violence are never, ever OK. And they won’t silence me.”
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Asylum hotels: Is the government caught in a trap?
Is it time for gunboats to help stop the people smugglers?
Curbing the power of judges in asylum cases to tackle the migrant hotel crisis is a typical Keir Starmer response to a problem.
The former director of public prosecutions would appear to see overhauling court procedures and the legal process as the answer to any tricky situation.
Yes, the proposed fast-track asylum appeals process is fine as far as it goes. But for a government confronted with a massive migrant crisis, opponents claim it’s mere tinkering.
And welcome and worthy as it is, it isn’t going to “smash the gangs”, stop the boats or act as a powerful deterrent to the people smugglers plying their trade in the Channel.
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