21Shares Sui ETF (TSUI): Termination of a Material Definitive Agreement
21Shares Sui ETF (TSUI) filed an SEC Form 8-K — Termination of a Material Definitive Agreement. false 0002061626 0002061626 2026-06-30 2026-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Repor
How this was made
The 30-second read
Why it matters
The contract termination and planned FTSE replacement introduce a scheduled change to the benchmark infrastructure underpinning daily valuation and settlement support, which can affect operational risk and market-making/hedging mechanics.
Market read
This is a scheduled benchmark-provider transition for TSUI’s daily NAV valuation, creating a defined future catalyst window (late Aug. 2026).
What to watch
Traders should monitor whether the FTSE benchmark’s calculation methodology or publication timing differs, potentially affecting intraday hedging, spreads, and NAV publication expectations around the Aug. 24–31 transition window.
Background
TSUI uses a third-party “Pricing Benchmark” to value shares daily and calculate NAV; the sponsor terminated the CME CF Sui—USD reference rate license and plans to switch to FTSE index data licensing.
Ticker impact
21Shares Sui ETF (TSUI) disclosed termination of its CME CF Sui pricing benchmark licensing agreement effective Aug. 31, 2026.
Near-term impact likely limited, but the Aug. 31, 2026 benchmark transition creates a future operational/valuation-cadence risk that could affect liquidity/flows around the changeover.
The filing is a primary SEC 8-K contract termination notice; it does not state a change in fund strategy or fees, but it does change the benchmark licensing provider used for valuation and settlement support.
Market effects
Highlights benchmark-provider transition risk for crypto ETPs/ETFs that rely on third-party reference rates for daily valuation.
Primarily impacts US-listed crypto ETP investors and market makers managing NAV/valuation processes.
FTSE’s involvement signals cross-border benchmark administration continuity for digital-asset indices.
Counterpoint
Because the agreement is described as a licensing/benchmark administration change (not a change in the underlying Sui exposure), price impact may be minimal unless the new benchmark materially differs from the prior reference rate.
Key entities
- ETF21Shares Sui ETF
US-listed trust whose sponsor terminated the CME CF Sui pricing benchmark licensing agreement and plans to license FTSE index data.
- benchmark_providerCF Benchmarks Ltd.
Current administrator of the CME CF Sui—USD reference rate used for TSUI valuation; license terminates effective Aug. 31, 2026.
- benchmark_providerFTSE International Limited
Planned new benchmark/data provider for TSUI licensing expected around Aug. 24, 2026.
