21Shares Planning Nasdaq Listing Bid for Contention in SUI ETF Race Alongside Canary Capital
U.S. Stock Exchanges Brace for potential Sui ETF Launches with 21Shares and Canary Capital in the Race
Swiss asset manager 21Shares and Canary Capital have taken steps towards listing Sui exchange-traded funds (ETFs) on U.S. stock exchanges, notably Nasdaq and Cboe BZX.
On May 23, 21Shares officially initiated the U.S. Securities and Exchange Commission's (SEC) review process by filing the 19b-4 form to list its 21Shares Sui sui-0.94% spot ETF on Nasdaq. The filing states that custodians for the fund will be Coinbase Custody and BitGo. 21Shares had already submitted its initial S-1 registration to the SEC on April 30.
Similarly, Canary Capital, which initially registered a Sui trust in Delaware on March 7, submitted its S-1 filing shortly afterward, followed by a 19b-4 filing through Cboe BZX on April 8 to list the Canary Sui ETF. The exact launch date for Canary Capital’s Sui ETF is not yet specified as it is currently under SEC review.
Once approved, these filings would represent the first Sui ETFs to appear in the U.S. market. Both proposals are under separate SEC review, with timelines subject to extensions within the agency's 240-day window.
Although 21Shares offers a 21Shares Sui Staking ETP in Europe, trading on the Euronext Paris and Amsterdam exchanges with a 1.52% staking yield and $168 million in assets under management, neither firm has confirmed a launch date in the U.S. as both are still pending regulatory approval.
Both 21Shares and Canary Capital are among more than 70 crypto ETF applicants awaiting SEC decisions, with neither having a confirmed launch date yet. The anticipated launch of Sui ETFs could attract increased interest in the SUI cryptocurrency, potentially reversing its recent decline. On May 23, the day of 21Shares' filing, the SUI price dropped nearly 8%, and it continued to fall in subsequent days before attempting recovery. The price currently hovers at the EMA 20, serving as dynamic resistance.
summary Table
| Firm | Listing Exchange | SEC Filing Date(s) | SEC Final Decision Deadline | Status ||----------------|------------------|----------------------------|----------------------------|-----------------------|| Canary Capital | Cboe BZX (initially); also 19b-4/S-1 for listing | S-1: March 17; 19b-4/S-1: April 8 | Not specified | Under SEC review || 21Shares | Nasdaq | S-1: April 30; 19b-4: May 23 | January 18, 2026 | Under SEC review |
These future listings could mark a significant milestone for the Sui cryptocurrency and the broader crypto industry as Sui ETFs potentially gain traction in the U.S. market.
- The 21Shares Sui ETF, if approved, will be listed on Nasdaq with Coinbase Custody and BitGo as custodians, while Canary Capital's ETF will likely be listed on Cboe BZX, pending SEC review.
- Both 21Shares and Canary Capital have submitted their S-1 registrations to the SEC and 19b-4 forms for listing, with 21Shares filing on May 23 for its Sui ETF.
- Once approved, the Canary Capital Sui ETF will be the first Sui ETF to appear in the U.S. market, joining over 70 crypto ETF applicants awaiting SEC decisions, including 21Shares.
- The anticipated launch of Sui ETFs could garner increased attention for the SUI cryptocurrency, potentially reversing its recent decline, as witnessed by a near 8% drop in SUI price on May 23.
- If successful, the Sui ETF listings could signify a significant milestone for the Sui cryptocurrency and the broader crypto industry as these ETFs gain traction in the U.S. market.
