In the land of Swiss precision, where even the watches are so accurate they tick in perfect harmony with the universe, 21Shares has decided to shake things up. They’ve filed an S-1 form for a SUI exchange-traded fund (ETF) with the almighty SEC. Yes, the Securities and Exchange Commission, the institution that moves like a glacier but occasionally shakes the ground beneath us. Can you feel the tremor? Because the filing is live on the SEC’s website, and so is the frenzy!
At this very moment, SUI is trading at $3.67. Oh, but hold your horses – it’s risen by a solid 4% following this event. A mere 4%, you might say? But, in the world of crypto, that’s akin to winning the lottery while walking your dog. Who’s laughing now?
“Since we first took a good, long look at Sui, we were convinced it could be the next big thing in blockchain,” said Duncan Moir, President of 21Shares. His words were a gospel at Sui’s annual Basecamp conference, and who can blame him? If you believe in something long enough, eventually the world catches up – even if that world is a bit slow on the uptake, like a tortoise in a marathon.
SUI, you see, is a layer-1 blockchain. A creation born from the minds of former Meta engineers. It has the audacity, the swagger, the kind of self-assuredness only a cryptocurrency with an $11.8 billion market cap can flaunt. Yes, it’s just shy of the top 10 largest cryptocurrencies, but it’s close enough to make the competition nervous. Imagine a strapping young lad standing outside the cool kids’ club, giving them the side-eye. That’s SUI.
And now, six weeks after Canary Capital made their move, 21Shares has followed suit – filing their own paperwork for a SUI ETF. It’s the financial equivalent of a well-timed plot twist, leaving us all wondering if there’s more to this story than meets the eye. What will happen next? Who knows, but we’re all along for the ride. Buckle up, folks!
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2025-05-01 14:04