Grayscale submits SUI spot ETF application to SEC, Layer 1 blockchain challenges traditional financial channels

[BlockBeats] According to the latest documents on December 6, Grayscale has officially submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a SUI spot ETF. This marks another Layer 1 public chain token, after Bitcoin and Ethereum, seeking a compliant entry into traditional financial markets.

It is worth noting that Grayscale has previously accumulated extensive experience in applying for Bitcoin and Ethereum spot ETFs. The choice of SUI as the underlying asset this time may be due to its differentiated positioning in the high-performance public chain sector. However, the process from submitting the S-1 to final approval usually requires multiple rounds of review and feedback, and the entire process may last several months.

For SUI holders, the advancement of the ETF will to some extent enhance asset liquidity expectations. However, regulatory attitude remains the biggest variable—the SEC has always maintained strict approval standards for altcoin ETFs. Whether this path can ultimately succeed will depend on the response from regulators.