European cryptocurrency investment firm 21Shares has recently submitted a Form S-1 registration for a spot Sui exchange-traded fund (ETF) in the United States, as part of its expansion into the US market. The proposed ETF, named the 21Shares Sui ETF, will issue common shares of beneficial interest to track the performance of SUI held by 21Shares’ US subsidiary. This move follows the successful trading of the 21Shares Sui Staking exchange-traded product in Europe in July 2024. The 128-page filing for the new SUI ETF does not disclose the US exchange where it will debut trading and lacks a ticker symbol. The ETF aims to provide exposure to SUI by directly holding the tokens without utilizing leverage or derivatives. Meanwhile, Canary Capital, a US-based crypto investment firm, had previously filed for a Sui ETF in the US, with Cboe BZX Exchange seeking clearance to list Canary’s Sui ETF. Sui-based exchange-traded products have been trading in Europe, with assets under management totaling $400 million as of April 25. Year-to-date, Sui ETPs have seen $72 million in inflows, with $20.7 million coming in just last week. This latest ETF filing by 21Shares adds to the growing list of crypto ETFs awaiting SEC approval, with at least 72 new filings as of May 1, according to Bloomberg analysts.