Bitwise has announced plans to expand its presence in the emerging crypto ETF market with a notice it has filed with the US Securities and Exchange Commission to create a spot Sui exchange-traded fund in the US.
On Thursday, the crypto asset management firm submitted a Form S‑1 to launch the “Bitwise Sui ETF,” officially registering the product with the SEC and taking the initial step toward bringing the fund to market. The filing positions the token among digital assets pursuing approval as spot-based investment products in the US. If approved, the ETF would allow investors to gain direct exposure to SUI through regulated markets, without the need to hold the token themselves.
Bitwise lobbies to secure spot SUI ETF approval
The ETF will follow the spot price of SUI (the native token of the Sui Network), according to the filing. Sui is a Layer 1 blockchain, introduced in mid-2023, that aims to accelerate transaction rates and provide scalable digital asset ownership. Meanwhile, Bitwise is yet to select a ticker symbol for the ETF, should it receive approval from the SEC.
Coinbase Custody is expected to serve as the fund’s custodian, continuing its role as a leading provider of crypto ETF services in the United States. Despite the rise in crypto ETFs this year, no asset manager has yet to launch a spot SUI ETF. Other firms are also working to fill that gap, with Canary Capital and 21Shares having filed for spot SUI ETFs in March and April, respectively.
The market is currently talking about these new offerings, particularly the 21Shares application, as the market awaits the SEC’s decision next month. The SEC approved a 21Shares 2x leveraged SUI ETF in early May. A slew of new crypto ETFs have been listed recently, following the regulator’s creation of generic listing standards, which have made it easier for listings to occur across the industry.
Bitwise is also expanding its crypto ETF lineup as the regulatory environment improves. Earlier this month, the firm added SUI to the Bitwise 10 Crypto Index ETF, which is listed on the New York Stock Exchange. The addition signals Bitwise’s increased confidence in the Sui Network’s sustainability. The firm also recently described Sui as a blockchain that accelerates, is private, secure, and facilitates easy digital asset ownership.
It notes that it aligns with Bitwise’s approach of backing networks that can drive genuine adoption at scale. Outside Sui, Bitwise is already selling spot Bitcoin and Ethereum ETFs. The move solidified its place in the ETF market, with the company also creating its spot XRP ETF this year to broaden its exposure to the highest-value crypto assets.
Bitwise executives are forecasting a surge in crypto ETF launches. Bitwise researcher Ryan Rasmussen, in a recent interview with the Bankless podcast, said the firm is betting on ‘faster growth’ in 2026. He said over 100 crypto ETF products could emerge in rapid succession as issuers scramble for market share. “And now we’re going to accelerate forward at crazy speed,” Rasmussen said.
