SUI is making headlines again — this time not for price volatility, but for a potential leap into institutional finance. Nasdaq has officially filed a rule change proposal to list the 21Shares Core SUI ETP, bringing the Layer 1 blockchain closer to ETF status in the U.S. The move represents a significant milestone in the token’s mainstream recognition, and could open the door to broader investor access if approved by the SEC.
Nasdaq Filing: What’s in the Proposal?
According to the official Nasdaq Rulebook Filing SR-NASDAQ-2025-042, the ETF would be physically backed by SUI tokens, custodied via Coinbase Custody Trust Company. The product — branded as 21Shares Core SUI ETP (ASUI) — will track the performance of SUI using the 21Shares Core Sui Index, calculated by Kaiko.
This isn’t just a routine filing. It marks the first U.S.-based attempt to create a spot SUI ETF, reflecting a growing appetite among issuers to tokenize exposure to newer blockchains beyond Bitcoin and Ethereum.
Nasdaq’s application initiates a multi-stage SEC review, which typically spans several months and includes public comment periods. If approved, this would make ASUI the first exchange-listed SUI investment vehicle on a major U.S. platform.
21Shares’ Push for Layer 1 Exposure
21Shares is no stranger to the crypto ETF race. After launching products tied to Bitcoin, Ethereum, and Solana, the firm is now targeting SUI as its next frontier. According to the official product page, the ASUI ETP aims to provide exposure to the Sui blockchain’s native token in a regulated and accessible way.
This strategy suggests a shift toward more diverse Layer 1 coverage, with SUI joining Solana and Avalanche as contenders in the battle for institutional capital.
SUI Price Analysis – Gearing Up?
SUI is currently trading around $3.67, showing signs of strength following the ETF news. The price action remains above key support at $3.30, and could retest the May highs above $4.00 if momentum builds. While ETF approval remains months away, market sentiment may already be pricing in increased legitimacy and future demand.
Source: Tradingview
However, caution is warranted — ETF filings do not guarantee approval, and any SEC pushback could trigger volatility.
Final Thoughts – More Than Just Hype?
ETF filings have historically served as inflection points for crypto assets — and SUI is now entering that arena. With a strong backing from 21Shares, a credible listing partner in Nasdaq, and a clear custody solution via Coinbase, the pieces are in place for a new institutional narrative.
Whether or not the SEC grants approval in the short term, one thing is clear: SUI is moving from speculation to structure — and the markets are watching.
