Key Notes
- The ETF would hold SUI tokens directly, providing regulated exposure for institutional investors.
- Sui is a Move-based Layer-1 blockchain with over 1.2 billion transactions since May 2023.
- SEC review for altcoin ETFs is ongoing, with approval still pending under heightened scrutiny.
Asset manager Bitwise filed an S-1 with the SEC on Dec. 18 to launch the first U.S. spot ETF tracking Sui’s
SUI
$1.44
24h volatility:
0.2%
Market cap:
$5.36 B
Vol. 24h:
$1.10 B
native token. The move extends the firm’s aggressive altcoin ETF strategy beyond Bitcoin
BTC
$88 081
24h volatility:
0.3%
Market cap:
$1.76 T
Vol. 24h:
$63.33 B
, Ethereum
ETH
$2 970
24h volatility:
0.3%
Market cap:
$357.81 B
Vol. 24h:
$37.09 B
, Solana
SOL
$125.1
24h volatility:
1.8%
Market cap:
$70.25 B
Vol. 24h:
$7.38 B
, and XRP
XRP
$1.88
24h volatility:
2.1%
Market cap:
$113.38 B
Vol. 24h:
$4.44 B
.
The proposed Bitwise Sui ETF would hold SUI tokens directly through a custodian, offering institutional investors regulated exposure without the operational burden of self-custody or decentralized exchange interaction.
About Sui and Its Technology
Sui, a Move-based Layer-1 chain built by former Meta engineers, has processed over 1.2 billion transactions since its mainnet launch in May 2023.
The blockchain’s parallel execution model differentiates it from Ethereum’s sequential processing, a technical feature Bitwise highlighted in earlier public commentary on alternative Layer-1 infrastructure.
The filing arrives as the SEC reviews a wave of altcoin ETF applications filed in recent months. Grayscale, 21Shares, and Canary Capital have submitted competing proposals for Solana, XRP, and Litecoin
LTC
$76.29
24h volatility:
1.8%
Market cap:
$5.84 B
Vol. 24h:
$578.91 M
products.
Many haven’t received approval yet, and the SEC has historically applied heightened scrutiny to non-Bitcoin crypto assets under the Howey Test framework.
Regulatory Process and Market Implications
The S-1 now enters the SEC’s standard review process, which usually spans several months and includes multiple rounds of amendments. Market participants are watching whether the agency’s posture shifts under incoming leadership.
If cleared, the Sui ETF would mark the first regulated U.S. product offering direct exposure to a Move-language blockchain. That distinction matters to allocators evaluating non-EVM ecosystems, particularly as Aptos
APT
$1.57
24h volatility:
1.2%
Market cap:
$1.17 B
Vol. 24h:
$220.42 M
and Sui compete for developer mindshare in the Move ecosystem.
Earlier in December, Bitwise further signaled confidence in Sui by including it in its 10 Crypto Index ETF on the New York Stock Exchange.
The firm highlighted the blockchain’s focus on fast, secure, and private digital asset ownership, underscoring Sui’s growing relevance for both retail and institutional investors.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Hamza is an experienced crypto editor/writer with a deep understanding of blockchain technology, cryptocurrency markets, and digital finance. He is passionate about making complex topics accessible and helping readers navigate the fast-evolving world of crypto.
Hamza Tariq on LinkedIn
Source: https://www.coinspeaker.com/bitwise-files-for-spot-sui-etf-as-altcoin-product-push-accelerates/
