Nasdaq has filed Form 19b-4 with the SEC to list and trade shares of the 21Shares Sui ETF, marking a significant milestone for 21Shares.
The Sui ETF has a market cap of $12.3 billion and SUI ETPs in Europe manage $317.2 million in assets.
Following a $223 million exploit of the Cetus protocol within the Sui network, Sui initiated a $6 million reward program and a $10 million security fund for recovery.
The filing reflects growing momentum behind alternative Layer 1 blockchain assets seeking traditional investment exposure, showing increasing regulatory receptivity towards altcoin ETFs.