Bitwise submits application to SEC for spot SUI exchange-traded fund

Bitwise has filed with the SEC to introduce a Spot SUI ETF, with the aim to track the SUI token, currently valued at 1.34 USD.

This application positions Bitwise in competition with firms like Canary Capital and 21Shares, who are also seeking to launch similar products.

With the current market cap of SUI at 4.98 billion USD, a successful ETF could significantly increase investment interest in SUI.