Nasdaq files 19b-4 for 21Shares Sui ETF, starting SEC review to approve or deny listing, aiming to track SUI’s price.
21Shares has taken an additional measure toward the launch of its Sui ETF. This time, the Nasdaq stock exchange has submitted Form 19b-4 to the US Securities and Exchange Commission (SEC) on behalf of the asset manager to list and trade shares of this fund.
Nasdaq has submitted Form 19b-4 to the Securities and Exchange Commission (SEC) to list and trade shares of the 21Shares Sui ETF on its stock exchange. This officially commences the review procedure, during which the Commission will approve or deny the application.
21Shares has previously indicated its intention to offer this ETF by filing the S-1 with the SEC earlier this month, as previously reported. This fund will expose institutional investors to SUI, the native token of the Sui network.
Nasdaq’s filing has resulted in an increase in the Sui price, which is currently trading at approximately $3.64. In the past 24 hours, the altcoin has experienced a nearly 2% increase. Nevertheless, it has experienced a 3% decline in the past seven days.
Nasdaq’s 19b-4 filing follows the $223 million Cetus breach, which sent shockwaves through the Sui ecosystem last week. Nevertheless, the team has suspended $160 million of the stolen funds and has initiated a bounty campaign to reclaim the remaining funds.
Yesterday, the Sui network issued a report verifying that the hack resulted from a flaw in Cetus’ math library rather than a vulnerability in the network or its Move programming language. In addition, the network established a $10 million fund to enhance the ecosystem’s security.
