5-9-2025 – The U.S. Securities and Exchange Commission has extended its review period for the 21Shares Spot SUI ETF, pushing back a decision on approval or denial. According to a recent SEC filing, the agency is instituting proceedings to evaluate the proposed rule change, which would allow Nasdaq to list and trade shares of the ETF under commodity-based trust standards.
Nasdaq initially filed the proposal on May 23, and the SEC designated a longer review window on July 22. The commission is now seeking written submissions from interested parties on the proposal’s merits and potential concerns, with a final deadline set for December 21.This delay aligns with ongoing efforts by the SEC and major exchanges, including Nasdaq, NYSE, and CBOE BZX, to establish generic listing standards for spot crypto ETFs. Amendments filed today remove “excluded commodities” from the commodity definition in these standards, a move that could streamline future approvals.
ETF Institute co-founder Nate Geraci noted that these rules might take effect by early October, based on deadlines for other spot crypto filings. SUI’s price dipped 0.5% over the past 24 hours to $3.33, with trading volume falling 15%, reflecting subdued market interest. Technical indicators show the token trading below its 50- and 100-day moving averages, with potential support at the 200-day average of $3.14; the RSI at 45 suggests room for upside, while futures open interest declined 2% to $1.82 billion but rose 0.75% on average across exchanges.
