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21Shares Launches Spot SUI ETF on Nasdaq, Opening New Avenues for Investors

Digital asset manager 21Shares has officially launched the 21Shares Spot SUI ETF on Nasdaq, trading under the ticker symbol TSUI.

This marks a significant development as it is the first non-leveraged ETF tied to SUI, following the previous launch of a leveraged version in December.

Duncan Moir, president of 21Shares, emphasized that this new ETF represents an important step in broadening access to Sui's ecosystem.

The introduction of the TSUI ETF comes on the heels of last week's launches of the Canary Stake SUI ETF and the Grayscale Sui Staking ETF, highlighting increasing institutional interest in SUI.

Sui, developed by Mysten Labs, is a Layer 1 blockchain engineered for hyper-scalability, with its native token, SUI, facilitating transaction fees and smart contract execution.

Currently, SUI ranks 31st by market capitalization, valued at around $3.3 billion, reflecting its growing prominence in the cryptocurrency market.

Evan Cheng, co-founder and CEO of Mysten Labs, noted that Sui's rapid advancements in payments and cross-border settlements have attracted notable investment interest.

The launch of spot ETFs like TSUI underscores the evolving landscape of cryptocurrency investment products for both retail and institutional investors.

As adoption ramps up, SUI’s innovative approach is setting a benchmark for future developments in blockchain technology.

This ETF debut is expected to provide new opportunities for investors looking to gain exposure to the increasingly competitive Sui ecosystem.