Bitwise has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) based on SUI, as reported by Criptonoticias. The proposed ETF, detailed in a Form S-1 filing, aims to track the price of SUI and may incorporate staking features. Coinbase Custody is designated as the custodian for the fund. Following the announcement, SUI's price surged by 8% within 24 hours. Bitwise, which already offers ETFs for cryptocurrencies like Bitcoin, Solana, XRP, and Dogecoin, is expanding its portfolio with this new application. This move comes after 21Shares launched its TXXS product, potentially impacting future regulatory developments in the cryptocurrency ETF space.