21Shares Sui ETF (TSUI) is a spot exchange-traded fund that provides investors with exposure to the price performance of SUI, the native token of the Sui Network, a Layer 1 proof-of-stake blockchain designed for fast, secure, and scalable smart contract operations including decentralized finance, payments, tokenization, and digital asset creation; the ETF holds SUI tokens primarily, tracks the CME CF Sui-Dollar Reference Rate (New York Variant), and employs a cash creation/redemption model via authorized participants using SUI counterparties and Coinbase Custody as custodian, with shares listed on Nasdaq. Sponsored by 21Shares US LLC, a subsidiary of 21Shares AG—which was founded in 2018 and is headquartered in Zug, Switzerland with U.S. operations in New York—the ETF operates without leverage or derivatives, targeting institutional and retail investors seeking regulated access to the Sui ecosystem without direct custody of digital assets. 21Shares offers a broad portfolio of cryptocurrency exchange-traded products including spot and leveraged ETPs/ETFs on assets such as Bitcoin, Ethereum, Solana, Polygon, and others, with geographic operations spanning Europe, the U.S., and other regulated markets. Recent developments include the Nasdaq listing and trading commencement of TSUI on February 24, 2026 following SEC approval, the December 2025 launch of the related 21Shares 2x Long Sui ETF (TXXS) as the first U.S. leveraged Sui product, and FalconX's acquisition of 21Shares in October 2025 to enhance institutional-grade infrastructure and product distribution in digital assets.