21shares rolls out spot SUI ETF on Nasdaq, marking the latest fund tied to Sui to launch

The latest exchange-traded fund tracking the price of Sui's native token has launched this week, as digital asset manager 21shares debuts the 21Shares Spot SUI ETF. 

The firm said the ETF is now trading on Nasdaq, under the ticker symbol TSUI. 21Shares was the first to bring to market an ETF linked to SUI, its 21Shares 2X SUI ETF, in December. 

“Following our successful launch of a leveraged SUI product, the introduction of TSUI represents the next step in expanding access to Sui through a straightforward, spot-based structure,” Duncan Moir, president of 21shares, said in a statement. 

The firm's non-leveraged SUI fund comes shortly after the first spot ETFs tracking SUI launched last week with the Canary Stake SUI ETF and the Grayscale Sui Staking ETF. 

Sui is a hyper-scalable Layer 1 blockchain developed by Mysten Labs. SUI is the native token of the blockchain and is used to pay for transaction fees, power smart contract execution, among other uses. The token currently ranks 31st by market capitalization at approximately $3.3 billion, according to The Block's price page.

“In a little more than two years, Sui has made significant inroads into payments and cross-border settlement, which has transformed it into one of the world’s most robust onchain economies and attracted the interest of leading institutions like 21shares as a result," Evan Cheng, co-founder and CEO of Mysten Labs, said in the statement.