A firm has filed documentation with the Securities and Exchange Commission (SEC) to create an exchange-traded fund (ETF) that will track the price of Sui (SUI), which is a layer-1 blockchain.
The hedge fund manager submitted an S-1 filing on Monday, following its earlier registration of a trust entity in Delaware on March 7, which was made public on the state’s Division of Corporations website.
In recent months, the firm has submitted several crypto ETF applications to the SEC, covering assets like Dogecoin (DOGE), Solana (SOL), and XRP, among others.
The move to launch a SUI ETF comes just ten days after a decentralized finance (DeFi) platform connected to Trump, World Liberty Financial (WLFI), announced plans to include Sui assets in its token reserves and investigate product development prospects.
SUI experienced a spike in value following this news, currently trading at $2.34. Although the token has risen over 52% in value over the past year, it has fallen approximately 31% in the last month.
The firm is anticipated to submit a 19b-4 document to the SEC, officially outlining its intentions for the SUI fund.