Nasdaq Submits 21Shares SUI ETF Form to SEC – Coincu

ChainCatcher reports that Nasdaq has filed the 19b-4 form to list the 21Shares SUI ETF on its platform. This document submission is required by the U.S. Securities and Exchange Commission (SEC) for approval. Approval of the new ETF is vital, offering institutional investors access to spot SUI through traditional brokerage accounts.

Nasdaq’s move to file a 19b-4 form for the 21Shares SUI ETF marks a significant step in expanding institutional access to cryptocurrency investments. The ETF aims to provide secure, transparent, and regulated investment opportunities for institutions by holding spot SUI without leverage or derivatives, with custody provided by BitGo and Coinbase Custody.

Nasdaq’s ETF Moves to Expand Institutional Crypto Access

According to official documents, Nasdaq’s submission of the 19b-4 form for the 21Shares SUI ETF signifies an important step in providing compliant investment avenues. The ETF aims to calculate its net asset value daily based on the SUI USD reference price compiled by CF Benchmarks and will not use leverage or derivatives, only holding spot SUI. This product is custodied by BitGo and Coinbase Custody, ensuring secure and transparent access for institutions.

If approved, the ETF will provide a transparent and regulated path for investing in SUI. The integration of traditional brokerage accounts indicates a significant move towards greater institutional adoption in the cryptocurrency space. Market observers note that such developments could lead to increased interest and investment in digital assets.

“This conference represents a significant initiative to break through the deadlocks caused by regulatory obstacles and market volatility.” – ChainCatcher Spokesperson, ChainCatcher

Reactions to Nasdaq’s move have been swift with several industry leaders expressing approval. The overall market response emphasizes the potential for enhanced credibility and rigor in crypto investments. As the application awaits the SEC decision, anticipation grows within the industry and among prospective investors.

Price Surge and Historical Precedence Highlight SUI Interest

Did you know? The first ETF approved by the SEC was in 1993, setting a precedent for regulated investment products. This move by Nasdaq for SUI perspectives new innovations in the crypto sphere.

As per CoinMarketCap’s data, Sui (SUI) currently trades at $3.66, with a market cap of $12.21 billion. The cryptocurrency has shown a price increase of 5.17% over the past 24 hours, while experiencing a 5.23% decline over the last 7 days. Its circulating supply is 3.34 billion, with a maximum supply capped at 10 billion. The 24-hour trading volume stands at $1.28 billion, marking a 53.18% increase.

The Coincu research team highlights that the introduction of compliant and regulated investment products like the 21Shares SUI ETF can drive significant shifts in investor behavior. Historical trends suggest a gradual convergence of cryptocurrency markets with traditional finance realms, potentially attracting a broader array of institutional players.