Is SUI the New Darling of Wall Street? Find Out Now! 😲

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Ah, the fickle nature of the market, much like a cat on a hot tin roof! The price of SUI has staged a rather dramatic rebound from its woeful two-week descent, all thanks to the audacious Bitwise, who, in an act of boldness reminiscent of a dashing hero in a Victorian novel, has filed to launch an exchange-traded fund tracking our beloved Sui token. 🏦✨

  • Bitwise, that charming purveyor of crypto dreams, has graciously submitted a Form S-1 to the SEC for the illustrious “Bitwise Sui ETF.”
  • Upon hearing the news, SUI decided to shake off its lethargy and surged over 4.5% from its recent tragic lows. How delightful! 🎉

On a Thursday most splendid, Bitwise took up its quill and submitted its Form S-1 to the U.S. Securities and Exchange Commission, thus initiating the grand process of creating a product designed to track the spot market price of the SUI token-our little gem from the layer 1 Sui blockchain network.

Ah, the S-1 filing! It is but the first step in what promises to be a thrilling rollercoaster of approvals and comments from the Commission, typically arriving within 30 days-if one is fortunate enough not to find themselves ensnared in bureaucratic delays, that is.

If the Commission deems it necessary to request revisions, Bitwise must don its finest attire and submit amending filings until the SEC finally nods in approval, after which the ETF may dance its way onto a registered exchange. 💃

With the new Generic Listing Standards, this entire review process is expected to take a mere 75 days-a veritable blink of an eye compared to the previous 240-day ordeal that left many a hopeful investor in a state of despair.

Indeed, the current regulatory environment is akin to a tidal wave of spot altcoin ETFs crashing upon the shores of the market, alongside the venerable Bitcoin and Ethereum offerings. Alas, while our dear SUI ETF awaits its fate, three other gallant issuers-Canary Capital, 21Shares, and Grayscale-are also in line, eager to join the fray.

Mark your calendars, dear readers! A final decision on 21Shares’ application is due by December 21, which may very well crown it as the first spot ETF tracking the SUI token in the United States. Exciting times ahead! 🎊

Yet, let us not forget that the SEC has already given the nod to a leveraged SUI ETF earlier this month, approving the 21Shares 2x Long SUI ETF, which promises to double the daily performance of SUI-for those who enjoy living dangerously, of course, as it does not hold the underlying token directly. ⚖️

Meanwhile, Bitwise has elegantly added SUI to its 10 Crypto Index ETF, now gracing the floors of the New York Stock Exchange like a debutante at her ball.

SUI price recovers

Our dear SUI, having wallowed in despair since the dawn of December, finally found its footing late Thursday, rallying from a disheartening low of $1.33 to soar over 4.5% higher in jubilant defiance of misery. Oh, the sweet taste of victory! 🥳

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2025-12-19 11:08