Bitwise is stepping deeper into crypto investing. The company has officially filed paperwork with U.S. regulators to launch a spot ETF tied to SUI, the token behind the Sui Layer 1 blockchain.
If approved, this ETF would let investors get direct price exposure to SUI without having to buy or store the token themselves. Coinbase Custody would hold the assets, adding a familiar and trusted name to the setup. Details like the ticker symbol and fees haven’t been shared yet.
Bitwise isn’t alone in this race. Canary Capital was the first to file for a SUI ETF back in March, and 21Shares followed with its own move, even launching a leveraged SUI product. So far, though, none of these applications have received the green light from the SEC.
SUI is currently one of the top cryptocurrencies by market value, sitting around the low 30s in rankings. The blockchain itself traces its roots back to Meta’s former Diem project and focuses on fast, scalable Layer 1 infrastructure.
This filing comes as crypto ETFs continue to expand beyond Bitcoin and Ethereum. Funds tied to tokens like XRP, Solana, and Dogecoin have already entered the market, showing growing interest from both institutions and everyday investors.
The regulatory tone in the U.S. also appears to be shifting. While the SEC was tough on crypto approvals in recent years, the agency has recently moved toward clearer rules under new leadership, making it easier for asset managers to bring new products to market.
For investors, a spot SUI ETF could open the door to owning exposure to a newer Layer 1 blockchain through a traditional investment vehicle. If approved, it could boost visibility, liquidity, and adoption for SUI as more institutions step in.
For now, it’s another strong signal that Wall Street’s interest in crypto isn’t slowing down—it’s broadening.v v
