Bitwise Files for Spot Sui ETF as Altcoin Product Push Accelerates

Asset manager Bitwise has filed an S-1 with the SEC to launch the first U.S. spot ETF tracking Sui’s native token. This move expands Bitwise's altcoin ETF strategy beyond Bitcoin, Ethereum, Solana, and XRP.

The Bitwise Sui ETF would hold SUI tokens directly, offering institutional investors regulated exposure without self-custody or decentralized exchange challenges.
Sui, a Move-based Layer-1 blockchain, has processed over 1.2 billion transactions since May 2023, distinguished by its parallel execution model.
The SEC is reviewing multiple altcoin ETF applications, including those from Grayscale, 21Shares, and Canary Capital.
The approval process could take several months, with potential shifts in SEC regulatory stance under new leadership.
If approved, the Sui ETF would be the first U.S. product offering direct exposure to a Move-language blockchain, significant for non-EVM ecosystem investors.

Bitwise included Sui in its 10 Crypto Index ETF on the NYSE, emphasizing the blockchain's focus on fast, secure, and private digital asset ownership.