ETF Altcoins in sight. The Nasdaq officially filed a request to the dry to list an ETF Super in cash on behalf of 21Shares. This approach marks the beginning of the dry examination process and it follows a previous approach of 21Shares launched at the beginning of May. The Crypto ETF is continuing to Wall Street and the requests stack on the desk of Paul Atkins.
- The Nasdaq has submitted an official request to the SEC to list an ETF sui in cash for 21Shares, marking the start of a crucial examination.
- The SUP ecosystem, although behind Solana in terms of capitalization, drew attention with growing demand for its financial products despite a disturbing recent hack.
21Shares advance towards a new ETF Crypto
For a ETF Or approved, two regulatory deposits are necessary. The 19b-4 deposit of Nasdaq is crucial because it triggers the process of examining the DRY And the agency then has 45 days to accept, reject or delay the request. However, it can extend this period up to 240 days.
In her request,, 21Shares proposed Bitgo And CUSTODY Coinbase As depositaries for the SU, but details such as management fees or the ticker have not been specified.
21Shares currently shares this project with Canary Capital Who is the only other asset manager to have submitted similar deposits for an ETP in cash for this crypto.
SU: an booming ecosystem
The ecosystem Suifocused on decentralized applications, is sometimes considered as a potential competitor of Solara Even if, with $ 12.3 billion in capitalization, it remains far behind Solana and its $ 92 billion.
21Shares already offers a product negotiated on the stock market (FTE) based Europeespecially on the Euronext Paris and Amsterdam scholarships. These crypto products attracted $ 317.2 million in management assets.
Flows to ETP based on suis increased by $ 2.9 million between May 16 and 24, according to Cornershares. In terms of net flows, she ranks behind Bitcoin, Ether, Solana and XRP.
With this new ETF request, 21Shares hopes to capitalize on the growing popularity of Suis, an ecosystem which continues to seduce investors despite a recent hack on Cetus which gave cold sweats to the community.