#美SEC促进加密资产创新监管框架 $SUI $LUNC $ETH

Big news! Grayscale has just officially filed the S-1 for a spot SUI ETF, but here's a fun fact you might not know—the so-called "first SUI ETF" has actually already been launched by someone else.

First, let's talk about Grayscale's move. What they’re really doing this time is transferring their existing over-the-counter product, Grayscale Sui Trust (GSUI), to be listed on NYSE Arca. Strictly speaking, this is a "product upgrade" rather than a launch from scratch.

But the real bombshell is on the other side: 21Shares’ 2x leveraged SUI ETF (ticker TXXS) has already started trading on Nasdaq! U.S. investors can now use compliant brokerage accounts to directly take leveraged bets on SUI’s price movements. This is the real first shot fired.

The current battlefield is quite clear:
- Already launched: 21Shares’ TXXS leveraged ETF, now trading
- Pending approval: 21Shares’ pure spot SUI ETF application, with the SEC’s final decision due by December 21
- In the queue: Grayscale’s spot SUI ETF application, with a later timeline

So December 21 will be a key date. If 21Shares’ spot ETF is approved, it could open the floodgates for altcoin ETFs. If it’s rejected, Grayscale’s application will face even greater challenges.

SUI’s price has already reacted. But the deeper issue is that the SEC’s stance on coins other than BTC and ETH has always been ambiguous. Reportedly, regulators want to first build a comprehensive "digital asset ETF regulatory framework" instead of approving projects case by case. This means the fate of individual projects could depend on the maturity of the industry’s overall policy environment.

Simply put: The SUI ETF story has begun, leveraged products are already on the table, but the spot ETF that could really bring in new capital still awaits regulatory approval. The script for this altcoin ETF race is only in its second chapter.

Who do you think will win? Will 21Shares’ first-mover advantage pay off, or will Grayscale catch up and take the lead?