21Shares Introduces TSUI – A Spot Sui ETF Listed on Nasdaq
New product gives U.S. investors regulated, direct exposure to the Sui blockchain token.
New York, Feb. 24, 2026 – 21Shares, a pioneer in cryptocurrency exchange‑traded products (ETPs), has filed and launched the TSUI Exchange‑Traded Fund (ETF) on the Nasdaq exchange. The vehicle provides U.S. investors with a compliant, brokerage‑accessible way to invest directly in Sui (SUI), the native token of the high‑throughput, Layer‑1 blockchain developed by Mystik Labs.
The fund, marketed as a “spot” ETF, holds physical SUI tokens rather than derivatives or futures contracts. It began trading under the ticker TSUI at the close of the Nasdaq opening session, giving both retail and institutional accounts the ability to add Sui exposure to traditional portfolio structures without the need for separate crypto custodial solutions.
Product Overview
| Feature | Detail |
|---|---|
| Issuer | 21Shares (Switzerland) |
| Ticker | TSUI |
| Exchange | Nasdaq (U.S. market) |
| Structure | Spot ETF – 100 % of assets held in physical SUI |
| Management fee | 0.75 % p.a. (subject to change) |
| Liquidity | Tied to Nasdaq market‑making and primary dealer participation |
| Regulatory status | Registered under the Investment Company Act of 1940; SEC‑approved |
The launch follows a broader wave of crypto‑focused ETFs that have entered mainstream U.S. markets over the past three years, expanding the toolbox for investors seeking exposure to blockchain assets while staying within regulated frameworks.
Market Context
At the time of the filing, SUI was trading around $0.86 on major price aggregators, down roughly 1 % on the day. While the token’s price action has been modest, the listing of a spot ETF signals that institutional demand for Sui is gaining momentum.
The move builds on recent developments in the Sui ecosystem:
- Canary Capital introduced the first staked SUI ETF earlier this year, offering investors returns tied to validator rewards.
- Mysten Labs, the original developer of Sui, has seen its co‑founder and CEO Evan Cheng highlight the chain’s “pre‑eminent tech stack” for global payments and scalable financial applications.
- Other major fund managers—including Bitwise, Franklin Templeton, Grayscale, and VanEck—have publicly explored Sui‑related products or disclosed allocation interest.
These signals suggest that Sui is emerging from the “niche‑layer‑1” category into a more broadly recognized asset class.
Analyst Commentary
Jane Liu, senior analyst at CryptoFund Research, noted:
“The TSUI spot ETF is the first time we’ve seen a pure‑play Sui product on a major U.S. exchange. It lowers the operational friction for traditional investors and could serve as a gateway for larger allocations, especially as institutional custodians become more comfortable with on‑chain assets.”
Mark Patel, portfolio manager at Evergreen Capital, added:
“Spot ETFs are generally more transparent than futures‑based products. For fiduciaries, the ability to audit the underlying holdings—here, the SUI tokens—helps satisfy compliance requirements.”
However, analysts caution that the underlying token’s volatility and relatively shallow market depth could pose liquidity challenges for large trades. The ETF’s performance will also be tightly linked to the health of Sui’s validator network and any future upgrades to its consensus mechanism.
Key Takeaways
- Regulated Access: TSUI offers a SEC‑registered, brokerage‑friendly route to invest directly in Sui, sidestepping the need for separate crypto wallets or custodians.
- Institutional Validation: The product’s launch on Nasdaq reflects growing confidence among traditional finance firms in Layer‑1 blockchain assets.
- Market Impact: While SUI’s current price is modest, the ETF may catalyze new capital inflows, potentially supporting price appreciation and liquidity.
- Competitive Landscape: TSUI joins a suite of Sui‑focused offerings, including staked ETFs and institutional allocation programs, positioning the token as a multi‑faceted investment target.
- Risks Remain: Token price volatility, network security considerations, and the nascent nature of Sui’s ecosystem should be factored into any investment decision.
Outlook
The introduction of TSUI marks a noteworthy milestone for both 21Shares and the broader Sui community. By bridging the gap between regulated markets and blockchain assets, the ETF could accelerate institutional participation and provide a template for future spot ETFs covering emerging Layer‑1 tokens.
Investors interested in adding Sui exposure should assess the ETF’s expense ratio, the underlying token’s liquidity, and the overall risk profile of the Sui network before allocating capital. As regulatory clarity around crypto‑based ETFs continues to evolve, products like TSUI will likely play a pivotal role in shaping the next phase of digital‑asset investment.
Source: https://thedefiant.io/news/tradfi-and-fintech/21shares-launches-tsui-etf-on-nasdaq
