Cboe BZX Exchange has asked United States regulators for clearance to list an exchange-traded fund (ETF) backed by Sui (SUI), the native token of the Sui Network, public filings show.
The request submitted on April 8 must be reviewed and approved by the US Securities and Exchange Commission (SEC) before the exchange can list any shares of the fund.
If approved, the ETF — issued by asset manager Canary Capital — would be the first in the country to hold SUI. The token has a market capitalization of roughly $6.5 billion, according to CoinMarketCap.
Sui is a blockchain network designed to provide users with a more streamlined onboarding experience — similar to traditional Web3 applications. It is built using Move, a smart contract framework based on the Rust programming language. Sui has approximately $1.1 billion in total value locked (TVL), according to DefiLlama.
Sui Network has…
