SEC Review Begins for 21Shares’ Sui ETF After Nasdaq Filing

Nasdaq has formally initiated the SEC’s review of 21Shares’ spot Sui ETF with a May 23 19b-4 filing. This follows the asset manager’s April 30 S-1 submission, completing the dual-filing requirement for ETF approval.

The SEC has 45 days for an initial ruling but can extend deliberations to 240 days, with a hard deadline of January 18, 2026. BitGo and Coinbase Custody are tapped as custodians, though key details like fees remain undisclosed.

Canary Capital filed a similar proposal in April, but 21Shares’ filing highlights SUI’s multifunctional role—staking, gas fees, liquidity, and governance—as central to the ETF’s structure.