Thomas Daniels
21Shares, a prominent issuer of cryptocurrency exchange-traded products (ETPs), has announced a strategic partnership with Sui, a high-performance Layer-1 blockchain network. This collaboration aims to enhance the global adoption of Sui’s native token, SUI, with a particular focus on the U.S. market.
The alliance comes at a time when Sui’s decentralized finance (DeFi) ecosystem is experiencing significant growth. Sui’s total value locked (TVL) has reached an all-time high of $2.1 billion, marking a 70% increase over the past month. This surge is largely driven by the success of Sui-based lending protocols, notably the NAVI Protocol, which has recorded a 78.86% rise in TVL.
“Partnering with Sui speaks to where we see the future of blockchain infrastructure heading,” said Federico Brokate, Head of U.S. Business at 21Shares. “We believe Sui has the technical underpinnings, DeFi and developer ecosystems, and institutional alignment to play a central role in crypto for a long time.”
In tandem with the partnership, 21Shares has filed for a SUI exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), signaling a move to provide institutional investors with regulated exposure to the Sui ecosystem.
Sui’s infrastructure, developed by former Meta engineers, offers sub-second transaction finality and horizontal scalability. Its object-centric architecture and support for real-world asset tokenization make it an attractive platform for developers and institutional applications.
The collaboration underscores the growing institutional interest in blockchain technologies and reinforces the role of Layer-1 networks in shaping the future of financial applications.
