Grayscale Files S-1 for New SUI ETF After 21Shares’ Successful First Fund Launch
Momentum around $SUI -based investment products is heating up as Grayscale has officially filed an S-1 with the SEC for the “Grayscale Sui Trust.” The proposed ETF would give investors regulated, direct exposure to SUI’s market performance without requiring custody or on-chain management. The trust is structured similarly to Grayscale’s other single-asset products and aims to closely track SUI’s price minus fees.
This filing arrives just days after 21Shares launched the first leveraged SUI ETF in the United States. Listed on Nasdaq under ticker TXXS, the product offers 2x daily exposure to SUI through derivatives. TXXS posted an opening close of 24.57 dollars with more than 4,700 shares traded, marking the first U.S.-listed ETF tied to the Sui blockchain.
Institutional interest in SUI has been rising throughout 2024. Canary Funds’ spot SUI proposal entered SEC review earlier this year, underscoring growing demand from investors looking to access the network through compliant financial products.
Grayscale’s latest move fits into a broader strategy to expand its ETF lineup. The firm recently launched the first US Chainlink ETF and introduced a DOGE ETF on NYSE Arca. It also filed to convert its Zcash Trust into a spot Zcash ETF.
Collectively, these developments highlight accelerating institutional demand for next-gen Layer 1 exposure and reinforce SUI’s position within the expanding ETF landscape.
