Bitwise has filed with the SEC to launch the first U.S. spot ETF tracking Sui (SUI), expanding its altcoin ETF strategy beyond Bitcoin, Ethereum, Solana, and XRP.
Asset manager Bitwise filed an S-1 with the SEC on Dec. 18 to launch the first U.S. spot ETF tracking Sui’s SUI $1.45 24h volatility: 1.4% Market cap: $5.41 B Vol. 24h: $1.11 B native token. The move extends the firm’s aggressive altcoin ETF strategy beyond Bitcoin BTC $88 377 24h volatility: 0.2% Market cap: $1.76 T Vol. 24h: $62.76 B , Ethereum ETH $2 985 24h volatility: 1.1% Market cap: $359.88 B Vol. 24h: $35.61 B , Solana SOL $126.2 24h volatility: 0.3% Market cap: $70.50 B Vol. 24h: $7.25 B , and XRP XRP $1.89 24h volatility: 1.4% Market cap: $114.08 B Vol. 24h: $4.45 B .
The proposed Bitwise Sui ETF would hold SUI tokens directly through a custodian, offering institutional investors regulated exposure without the operational burden of self-custody or decentralized exchange interaction.
About Sui and Its Technology
Sui, a Move-based Layer-1 chain built by former Meta engineers, has processed over 1.2 billion transactions since its mainnet launch in May 2023.
The blockchain’s parallel execution model differentiates it from Ethereum’s sequential processing, a technical feature Bitwise highlighted in earlier public commentary on alternative Layer-1 infrastructure.
The filing arrives as the SEC reviews a wave of altcoin ETF applications filed in recent months. Grayscale, 21Shares, and Canary Capital have submitted competing proposals for Solana, XRP, and Litecoin LTC $76.89 24h volatility: 1.0% Market cap: $5.87 B Vol. 24h: $566.68 M products.
Many haven’t received approval yet, and the SEC has historically applied heightened scrutiny to non-Bitcoin crypto assets under the Howey Test framework.
Regulatory Process and Market Implications
The S-1 now enters the SEC’s standard review process, which usually spans several months and includes multiple rounds of amendments. Market participants are watching whether the agency’s posture shifts under incoming leadership.
If cleared, the Sui ETF would mark the first regulated U.S. product offering direct exposure to a Move-language blockchain. That distinction matters to allocators evaluating non-EVM ecosystems, particularly as Aptos APT $1.61 24h volatility: 4.5% Market cap: $1.19 B Vol. 24h: $248.10 M and Sui compete for developer mindshare in the Move ecosystem.
Earlier in December, Bitwise further signaled confidence in Sui by including it in its 10 Crypto Index ETF on the New York Stock Exchange.
The firm highlighted the blockchain’s focus on fast, secure, and private digital asset ownership, underscoring Sui’s growing relevance for both retail and institutional investors.
Sui. Designed to make digital asset ownership fast, private, secure, and accessible.
Now in the Bitwise 10 Crypto Index ETF (NYSE: BITW). pic.twitter.com/FfrF5r6qom
— Bitwise (@BitwiseInvest) December 9, 2025