21shares launched the 21Shares Spot SUI ETF (TSUI) on Nasdaq on Tuesday, giving U.S. investors brokerage-account access to Sui's native token without requiring direct wallet custody.
The fund carries a 0.30% annual management fee, waived entirely through Oct. 8, 2026, with initial assets under management of approximately $9.2 million at launch.
TSUI is not registered under the Investment Company Act of 1940, meaning it does not carry the same regulatory protections as standard '40 Act-registered ETFs and mutual funds.
What Launched and How It Works
Custody is split across three qualified custodians: Anchorage Digital Bank, BitGo New York Trust Company, and Coinbase Custody Trust Company.
The fund tracks spot SUI prices and is structured as a grantor trust, not an investment company. 21shares first entered the SUI market in December 2025 with a 2x leveraged ETF - TSUI is its unleveraged, spot-based follow-on.
Together, the two products offer both leveraged and direct price exposure to the same underlying asset.
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A Crowded SUI ETF Week
TSUI's debut comes days after competing products from two other issuers. The Canary Stake SUI ETF and the Grayscale Sui Staking ETF both began trading last week.
Bitwise, Franklin Templeton, and VanEck have also filed or announced planned SUI-related products.
That five major issuers moved within roughly the same week reflects active competition for first-mover positioning in altcoin ETF products following the post-GENIUS Act regulatory environment.
Sui's On-Chain Context
Sui is a Layer 1 blockchain built by Mysten Labs, whose founding team came from Meta's Diem and Libra projects.
The network reported $6.5 billion in 30-day DEX volume and over $100 billion in monthly stablecoin transfer volume for six consecutive months, per its own disclosures.
Those figures come from Sui's own publications and have not been independently verified by a third-party analytics provider. SUI was trading around $1.80 on Tuesday, down approximately 60% from its January 2025 high above $4.80.
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