21Shares is sufficient for SUI-ETF
The Swiss crypto product provider 21Shares has submitted an application to the US stock exchange supervisory authority (SEC) to register a listed fund (ETF) for the cryptocurrency SUI. The application follows a strategic partnership.
The real storm of crypto-ETF applications on the Secder continues. Since then Change of regime at the authority There are over 70 new products available for assessment. The first altcoin ETFs could receive the green light in the next four weeks, As cvj.ch reported. Solana and XRP are among the most promising candidates. By submitting an ETF to SUI, the long list of upcoming US funds is expanded to include another cryptocurrency. The laying of the “21Shares SUI ETF” is subject to the effectiveness of the form of the form S-1 and the approval of a form 19b-4 submission by the Sec as from the application emerges.
Strategic partnership as a basis
At the same time, the product provider enters a strategic partnership with SUI to expand the global range of the Layer 1 blockchain. The cooperation will produce product cooperations, research reports and other initiatives and underline the growing interest of institutional actors in the SUI ecosystem. According to a media release, SUI has developed into a destination for the tokenization of real assets, including stable coins and Defi, at an impressive speed, throughput and scalability.
“Since our first research on SUI, we have been convinced that it could develop into one of the most exciting blockchains in the industry. We see that this thesis is true. We act out of conviction, but also on the basis of the demand from investors, and our planned roadmap with SUI reflects both.” – Duncan Moir, President of 21shares
21Shares has its headquarters in Zurich, Switzerland, and has built up a robust range of services for digital assets in Europe for years. Now the company is increasingly focusing on the US market. So far, the product provider has been offering a Bitcoin and Ethereum ETF in the United States.
SUI: an alternative layer 1 blockchain
Sui is a Layer 1 blockchain founded by former META developers. The network promises high scalability and transactions with low latency. The object-oriented model based on the Move programming language should enable parallel execution, finality in the subscond area and diverse on-chain assets. As a result, SUI competes with the current top dogs Ethereum and Solana. Measured in total accommodated assets (“Total Value Locked, TVL”) Sui ranks 9th in the blockchain networks.
