21Shares has made significant updates to its Sui ETF filing, addressing staking model specifics, Nasdaq listing plans, and custody arrangements. The SEC review is ongoing, but these amendments reflect a more transparent structure for the planned spot Sui ETF. 21Shares has added detailed information about staking arrangements in their application, including unbonding periods, redemption patterns, trust size, and asset concentration within the ETF. A notable update involves Coinbase Crypto Services’ role as a staking partner, providing further clarity on the ETF’s operational side. The filing also confirms Nasdaq as the exchange for the Sui ETF upon approval by the SEC. The Bank of New York Mellon will handle cash custody, while Coinbase Custody will secure the assets within the ETF. Despite these updates, the SEC hasn’t yet ruled on the ETF application, citing ongoing work with exchanges to define listing standards for spot crypto ETFs. However, the latest filing has generated positive market reaction, with SUI price rising by 2.50% within an hour. If approved, the SUI ETF will track performance of SUI based on CME CF Sui Dollar Reference Rate, providing investors exposure to the digital asset’s price movements.