Swiss Asset Manager 21Shares has submitted an S-1 registration form for a Sui Exchange-Traded Fund (ETF) to Securities and Exchange Commission (SEC).

SUI is currently shopping for $ 3.67 and rising by 4%after the archiving went live on the SEC’s website.

“Since our earliest study of Sui, we thought it could be one of the most exciting blockchains in the industry and we see the thesis is playing out,” said Duncan Moir, president of 21Shares, who spoke at SUI’s annual Basecamp conference.

SUI is a LAG-1 blockchain developed by former metating engineers, the network’s original token has a market capital of $ 11.8 billion leaving it just outside the 10 largest cryptocurrencies.

21Shares’ filing comes six weeks after Canary Capital filed paperwork for the launch of a SUI ETF.