Cboe eyes first US Sui ETF for altcoin investors

Cboe BZX Exchange has officially submitted Form 19b-4 to the US Securities and Exchange Commission (SEC) to list an exchange-traded fund (ETF) tied to the Sui blockchain.

The April 8 filing stated:

“Cboe BZX Exchange, Inc. is filing with the Securities and Exchange Commission (‘Commission’ or ‘SEC’) a proposed rule change to list and trade shares of the Canary SUI ETF.”

If approved, the fund would offer regulated exposure to the SUI token, which has a market capitalization of over $6.4 billion.

This would make it a landmark product for altcoin investors in traditional markets as it would introduce the first ETF in the US market that holds the SUI token.

Meanwhile, the ETF could stake some of its SUI holdings to generate on-chain rewards.

According to the filing:

“The Sponsor may stake, or cause to be staked, all or a portion of the Trust’s SUI through one or more trusted staking providers (‘Staking Providers’).”

The Sui team sees this development as a strong vote of confidence from traditional finance. They believe it further validates Sui’s potential as a high-speed asset coordination layer for decentralized and institutional ecosystems.

Over the past six months, the Sui ecosystem has attracted heavyweight traditional financial institutions like Franklin Templeton, Grayscale, VanEck, and Ant Financial. These firms have rolled out various investment tools, from tokenized funds to exchange-traded notes, designed to leverage Sui’s scalable infrastructure.

Crypto ETFs gain momentum

The Sui ETF filing is part of a broader wave of crypto-focused investment products gaining traction in the US amid a more favorable regulatory landscape.

Canary Capital, for instance, recently filed to launch a hybrid ETF combining cryptocurrencies and non-fungible tokens (NFTs).

The proposed fund would offer exposure to digital assets like Solana and Ethereum alongside collectibles such as Pudgy Penguins and the PENGU token.

In another notable launch, Teucrium introduced a leveraged XRP ETF on April 8. The 2x Long Daily XRP fund saw strong demand at debut, suggesting that the appetite for crypto-backed financial products continues to rise.

Market analysts see these moves as signs of a maturing market, where digital assets are no longer sidelined but integrated into mainstream portfolios through regulated, transparent investment vehicles.