Bitwise Enters the Spot Sui ETF Race With a New SEC Filing

Jimmy Aki
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On December 18, asset management firm Bitwise filed a Form S-1 with the US Securities and Exchange Commission (SEC) to launch a spot Sui exchange-traded fund (ETF). The proposed product would track the spot price of SUI tokens, allowing investors to gain regulated exposure to the token through a traditional market structure.

 

Generic Listing Standards Could Ease Sui ETF Approval

Bitwise has not yet disclosed the ticker symbol for its Sui ETF.

For now, Coinbase Custody has been named as the custodian. It would be responsible for securely holding the SUI tokens that back the ETF. This choice adds credibility, as Coinbase already provides custody services for several approved crypto ETFs.

Bitwise’s move to file for an Sui ETF is not in isolation. Other asset managers like Canary Capital and 21Shares filed their own Sui ETF products in March and April, respectively.

Despite the surge in crypto ETFs approved in 2025, no spot Sui ETF has reached the US market so far. The only greenlight is associated with a 2X leverage SUI ETF from 21 Shares.

Analysts and market watchers believe the chances of a spot Sui ETF approval are higher due to a recent regulatory shift.

In September, the US SEC introduced new generic listing standards for crypto ETFs.

These standards extend the existing ETF framework under Rule 6c-11, a rule originally designed to simplify how traditional ETFs are brought to market.

By expanding it to cover crypto ETFs, the regulator has created clearer expectations for issuers.

In the past, crypto ETF filings often faced long and unpredictable review periods, sometimes stretching up to 240 days.

Under the new standards, issuers must meet defined criteria. If those conditions are satisfied, a crypto ETF can proceed without prolonged delays.

For Bitwise, this could be a turning point. The Sui ETF may not have to endure the same extended timeline that earlier applicants faced.

More Crypto ETPs Projected to Launch in 2026

The Sui ETF story fits into a much larger trend. According to Bitwise, the crypto ETF market is only getting started.

Earlier this week, Bitwise researcher Ryan Rasmussen outlined a bullish outlook for the sector. He expects more than 100 crypto exchange-traded products (ETPs) to launch in 2026.

These products would go beyond simple spot crypto ETFs. They could include index-based funds, equity-linked offerings, smart beta strategies, and momentum-focused products.

Rasmussen pointed to regulation and demand as the main forces driving this growth.

Notably, there are clear advantages to this expansion. More crypto ETPs give investors broader choice and better access. They also help integrate crypto further into traditional financial markets.

However, the rapid growth carries risks. An influx of new funds could lead to lower-quality or highly speculative products entering the market.

Some crypto ETPs may struggle with liquidity or tracking accuracy. Others may fail to attract long-term interest.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.