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XRP news today: 21Shares Files Sui ETF, Price Jumps 9.3%

Coin WorldThursday, May 1, 2025 11:41 am ET

1min read

Crypto asset manager 21Shares has filed for an exchange-traded fund (ETF) that tracks the price of sui, according to a filing with the U.S. Securities and Exchange Commission. The 21Shares Sui ETF aims to provide investors with broader access to the native token of the layer-1 network, which has been designed for high-speed transactions and is sometimes referred to as a "Solana Killer."

The filing specifies that coinbase will act as the custodian to safeguard investors' funds, but it does not mention the exchange on which the fund will trade or its ticker name. In addition to the ETF filing, 21Shares has announced a "strategic partnership" with Sui. This partnership will involve product collaborations and research reports, as stated in a press release. Duncan Moir, President of 21Shares, expressed enthusiasm for the partnership, stating, "Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry. We operate based on conviction but also investor demand, and our planned roadmap with Sui is a reflection of both."

The price of Sui experienced a significant spike on Wednesday, reaching $3.73, which represents a 9.3% increase over the past day. This surge follows a broader trend of the asset's price soaring 80% over the past 14 days, although it remains below its peak of $5.35 in January. Canary Capital had previously filed for a similar Sui ETF with the Securities and Exchange Commission in March, which would be listed on the Cboe. The exchange later proposed a rule change to the SEC that would allow Canary’s ETF to trade, completing a key step in the approval process.

While analysts expect the SEC to approve spot crypto ETFs beyond Bitcoin and Ethereum this year, the regulator has yet to give asset managers the green light. On Tuesday, the SEC delayed decisions on Dogecoin and XRP ETFs until at least June. 21Shares itself has applied for ETFs in the U.S. tracking the spot price of Dogecoin, XRP, and Polkadot. In Europe, 21Shares offers an exchange-traded product tracking Sui’s price, which debuted last July. This product provides investors with staking rewards, a feature not available in any crypto ETF in the U.S.

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