21Shares Updates Sui ETF Filing with SEC, Adds Staking Details and Nasdaq Listing

21Shares has filed a second amended S-1 with the U.S. Securities and Exchange Commission (SEC) for its spot Sui ETF, revealing key updates on staking and listing details. The revised filing, submitted after market close on October 23, outlines new information about the ETF’s structure but omits the ticker and management fees. This development comes amid growing anticipation in the crypto market as investors await the SEC’s decisions on multiple spot crypto ETF applications, with recent delays due to the U.S. government shutdown dampening sentiment.

According to the filing, 21Shares introduced a new section titled “Staking of Trust’s Assets,” detailing how the trust’s SUI holdings may be staked to earn rewards. The section specifies factors such as the unbonding period, redemption patterns, trust size and concentration, performance of staking service providers, and ongoing market condition monitoring. The document also confirms that 21Shares US LLC has signed a two-year staking services agreement with Coinbase Crypto Services, which will handle the validation and block approval process for the ETF’s assets.

Additionally, 21Shares announced that the Sui ETF will list and trade on Nasdaq, designating The Bank of New York Mellon as the cash custodian and Coinbase Custody as the digital asset custodian. However, details regarding the transfer agent and marketing partners are still pending. Once approved, the Sui ETF will mirror the performance of SUI based on the CME CF Sui Dollar Reference Rate.

Following the amended filing, SUI’s price surged 2.5% within an hour, reaching $2.47, while open interest in Sui futures climbed 3% to $823 million, reflecting renewed optimism among traders. The market reaction underscores growing enthusiasm surrounding crypto ETFs and the potential mainstream adoption of Sui through regulated investment vehicles.