The SUI ETF application boom is here, with multiple institutions competing on the same stage

【Crypto World】Recently, there is a hot topic in the crypto market worth paying attention to—the ETF application battle for SUI tokens has begun. Bitwise has submitted a spot ETF application tracking SUI to the U.S. Securities and Exchange Commission, with a well-known industry custodian. However, Bitwise is not the first to try; Canary Capital and 21Shares had already filed applications earlier. Interestingly, 21Shares even launched a leveraged ETF product for SUI, indicating that everyone is eager to seize a position in this wave.

As the native token of the Sui blockchain, SUI currently ranks within the top 50 globally (31st place) by market cap, showing significant popularity. This ETF application wave actually reflects a larger market shift—the number of cryptocurrency ETF applications has surged over the past two years. Coupled with recent adjustments in U.S. regulatory attitudes, with SEC leadership pushing for clearer and more standardized digital asset regulatory frameworks, the market has received many positive signals. It seems that traditional financial institutions entering the crypto space has become an inevitable trend.