In a move that surprised absolutely no one (because, let’s face it, everyone’s jumping on the ETF bandwagon these days), Bitwise-the crypto asset manager with more ETFs than a Wall Street trader has excuses-has filed paperwork with the SEC for a spot SUI ETF. Because why not?
Like a determined squirrel hoarding acorns for winter, Bitwise dropped a Form S-1 filing on Thursday, officially registering the “Bitwise Sui ETF” with the SEC. One small step for Bitwise, one giant leap for… well, probably just Bitwise.
The fund promises to track the spot price of SUI, the token powering the Sui Network-a blockchain that, let’s be honest, most people only vaguely remember exists. Coinbase Custody will babysit the tokens, presumably while charging a fee that makes babysitters everywhere weep with envy.
Amid the SEC’s 2025 crypto ETF approval frenzy (seriously, they’re handing them out like candy at a parade), a spot SUI ETF remains conspicuously absent. Canary Capital and 21Shares tried their luck earlier this year, with 21Shares’ review deadline looming ominously next month. Meanwhile, the SEC recently approved a 2x leveraged SUI ETF-because if one ETF isn’t risky enough, why not double down? 🎲
SUI, launched in 2023, currently sits at a respectable #31 in market cap rankings, boasting a cool $4.98 billion valuation. An ETF would undoubtedly thrill the SUI community, assuming there is one. (We’re still looking for them.)
Bitwise’s ETF Addiction Continues 🏦
Not content with merely existing, Bitwise recently tossed SUI into its 10 Crypto Index ETF, praising the blockchain’s ability to make digital ownership “fast, private, secure, and accessible”-or, in layman’s terms, “not completely terrible.”
Beyond SUI, Bitwise has been busy launching ETFs like a caffeinated startup founder-spot Bitcoin, Ether, and even a spot XRP ETF (because apparently, lawsuits aren’t scary enough).
And if you think this is excessive, just wait. Bitwise’s researcher Ryan Rasmussen predicts over 100 crypto ETFs will flood the market in 2026. “From here, we accelerate forward at ridiculous speed,” he declared, presumably while strapping himself into a metaphorical rocket. 🚀
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2025-12-19 05:54