Bitwise is officially joining the push to bring Sui exposure into an ETF wrapper.
On Thursday, the crypto index fund manager filed registration documents with the U.S. Securities and Exchange Commission for a proposed Bitwise Sui ETF, adding another name to a growing list of firms competing to launch Sui-focused investment products.
The filing signals rising institutional interest in Sui, even as regulatory approval for spot altcoin ETFs remains competitive and uncertain.
HUGE 🚨 @BitwiseInvest just filed for a $SUI ETF
— eye zen hour 🥶 (@eyezenhour) December 18, 2025
An S‑1 was just filed with the SEC for a Sui‑backed exchange‑traded product
Institutions are flocking to @SuiNetwork because they understand:
It’s more than a Layer 1
It’s the future of the internet pic.twitter.com/myVNUD7mQ9
How the Bitwise Sui ETF Is Structured
According to the registration statement, Coinbase Custody will serve as the custodian for the fund’s assets. The trust is designed to give investors exposure to the value of Sui tokens held by the fund, after accounting for operating expenses and liabilities.
Key details are still missing. The filing does not list a ticker symbol, management fees, or an expected launch date, which is typical at this early stage of the process.
A Crowded Field Is Taking Shape
Bitwise is not first to the table.
Canary Capital submitted the first Sui ETF application back in March, with 21Shares following shortly after. Neither proposal has received approval from the SEC so far.
However, 21Shares recently launched the 21Shares 2x SUI ETF, marking the first exchange-traded product tied to Sui. While leveraged products can come to market more easily, spot ETFs remain the main prize.
Why Sui Is Drawing Attention
Sui is a layer-1 blockchain that traces its roots to Meta’s discontinued Diem project. The network uses the SUI token to power transactions and on-chain activity.
By market capitalization, Sui currently ranks around 31st among cryptocurrencies, according to data from The Block. That places it below giants like Bitcoin and Ethereum, but firmly within the group of assets attracting institutional curiosity.
The Regulatory Backdrop Is Shifting
The timing of Bitwise’s filing matters.
In recent months, asset managers have introduced or proposed ETF products tied to XRP, Dogecoin, and Solana, reflecting a broader push beyond Bitcoin and Ethereum. Under the Biden administration, the SEC took a cautious approach to digital assets, often relying on enforcement actions rather than clear rulemaking.
That posture is beginning to change.
SEC Chair Paul Atkins has moved the agency toward clearer digital asset frameworks, including approval of listing standards for certain ETF products. These changes allow eligible funds to move through the approval process more efficiently than under earlier regimes.
What Comes Next
Bitwise’s filing makes its intent clear. The firm wants to offer regulated exposure to Sui through a familiar investment vehicle.
As a specialist in crypto index products, Bitwise has already launched multiple digital asset funds across different tokens and blockchain networks. Whether the Sui ETF clears regulatory hurdles will depend on how quickly the SEC is willing to extend spot ETF approvals beyond the largest cryptocurrencies.
For now, the race is on, and Sui has officially joined the next wave of ETF contenders.
