$SUI $LUNC $ETH

Grayscale has made a move, but this time, they’re not the first.

Their S-1 filing has already been submitted, aiming to convert the over-the-counter Grayscale Sui Trust (GSUI) into a spot ETF listed on NYSE Arca. Note, this isn’t a brand-new application, but rather an “upgrade channel” for an existing product.

But the real frontrunner has already crossed the finish line—21Shares’ 2x leveraged SUI ETF (TXXS) has already begun trading on Nasdaq. Now, US investors can directly bet on SUI’s price movement with leverage through compliant brokerage accounts. Grayscale didn’t get to claim this “first.”

The current situation is interesting:

**Already running:** 21Shares’ TXXS (leveraged), actively trading.
**Still waiting in line:** Two spot ETF applications. The SEC decision deadline for 21Shares’ application is December 21, which is earlier than Grayscale’s timeline. Whoever gets approval first will be the trailblazer for altcoin ETFs.

The market’s eyes are on this date. SUI’s price has already started fluctuating, but the game behind the scenes is more complex—the SEC has always been cautious about ETFs for coins other than BTC and ETH. Rumor has it that regulators want to first establish a “general digital asset ETF framework,” rather than approving products one by one. Whether SUI gets approved may depend on when this set of rules is released.

In short: the leveraged version is already on the table, but the spot version, which could truly unleash a flood of capital, is still waiting for the SEC to serve it up. The battle for altcoin ETFs is just beginning.

Do you think 21Shares will get approval first, or can Grayscale make a comeback? #成长值抽奖赢iPhone17和周边 #广场发帖领$50 #参与创作者认证计划月领$10,000 #GUSD双重收益