Bitwise has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot SUI ETF, aiming to capitalize on the increasing institutional demand for regulated cryptocurrency products. The proposed ETF will have Coinbase Custody as its custodian, ensuring secure storage of the SUI tokens. SUI, the native token of the Sui blockchain, is currently ranked 31st by market capitalization. This filing highlights the intensifying race among financial firms to offer new crypto investment vehicles, although no spot SUI ETF has been approved to date.