Crypto investment firm 21Shares has taken another step towards expanding its presence in the US market by filing an application with the SEC to launch a spot Sui exchange-traded fund (ETF). This move comes after the company launched a similar product in Europe in July 2024. The 21Shares Sui ETF, yet to be assigned a ticker or date for debut on a U.S. exchange, aims to track the performance of SUI held by 21Shares’ US subsidiary. 21Shares is not alone in this endeavor; fellow crypto investment firm Canary Capital filed for a similar spot Sui ETF earlier this year. This filing follows a series of recent developments for Sui-based exchange traded products (ETPs). A growing amount of funds have been allocated to these products, with an estimated $400 million under management as of April 25th 2025.