Cboe BZX Exchange has applied for approval from US regulators to list an ETF backed by Sui, the Sui network's native Sui token, according to public documents.
The application, filed April 8, requires SEC review and approval before the fund's shares can be listed.
If approved, the ETF - managed by Canary Capital - would be the first in the US to hold SUI. The token's market capitalization is approximately $6.5 billion, according to CoinMarketCap.
Sui is a blockchain network aimed at enhancing user onboarding experiences similar to traditional Web3 applications.