- 21Shares adds staking and Nasdaq listing details in updated Sui ETF filing with the SEC.
- Coinbase to manage staking operations under a two-year agreement for the proposed Sui ETF.
- SUI price climbs 2.5% and futures open interest rises after 21Shares’ amended ETF submission.
21Shares filed a second amended S-1 with the US SEC for its spot Sui ETF after the market closed on October 23. The filing added a new staking section, identified Nasdaq as the exchange for listing, and detailed custodian arrangements, driving renewed investor interest in SUI.
21Shares Adds Staking Details in Amended Sui ETF Filing
According to the updated SEC document, 21Shares included a new section titled “Staking of Trust’s Assets.” It describes the staking model parameters, including unbonding periods, redemption structure, trust size and concentration, and performance monitoring of the staking service provider.
The filing also disclosed that 21Shares US LLC entered a two-year staking agreement with Coinbase Crypto Services. Coinbase will handle staking, validation, and block approval for the ETF during this period. This arrangement aims to manage the staking operations of assets held in the trust.
However, the amended filing did not include information about the ticker symbol or fees. The SEC continues to review the application as it works with exchanges on establishing listing standards for spot crypto ETFs.
Nasdaq Listing and Market Response to the Sui ETF Update
The amended document confirmed that the Sui ETF intends to list on Nasdaq. The Bank of New York Mellon will act as the cash custodian, while Coinbase Custody will safeguard the crypto assets. Other roles, such as the transfer and marketing agents, were not yet disclosed by the issuer.
If approved, the ETF will track the performance of SUI through the CME CF Sui Dollar Reference Rate. The SEC had previously delayed its decision on the ETF as part of ongoing efforts to define rules for spot crypto listings.
Following the filing, SUI’s price rose 2.5% in an hour to $2.47, with trading volume also increasing. CoinGlass data showed that Sui futures open interest grew 3% in one hour to $823 million, up 7% over 24 hours. This rise indicates growing optimism among traders following 21Shares’ latest ETF amendment.
