SUIS vs XRP

SUISDCanary Staked SUI ETF

XRPABitwise XRP ETF

In short

SUIS A grantor trust that holds Sui and puts it to work: the coins are staked on the SUI network, and the rewards earned come back as more SUI inside the trust rather than as cash in your account.

XRP Bitwise won the naming fight: its spot fund trades under the coin's own ticker. Underneath it is plain plumbing, XRP in cold storage at Coinbase, priced off a CME CF reference rate, one all-in 0.34% fee.

Stated mandate

SUIS The Trust seeks to provide exposure to the price of Sui held by it, after expenses. It also seeks additional SUI through staking rewards earned from validating transactions on the SUI Network’s proof-of-stake process.

XRP The Fund holds spot XRP to give investors indirect exposure to XRP through exchange-traded shares.

Why people hold it

• SUIS Staking is part of the mandate, not an afterthought. The trust stakes the SUI it holds and seeks additional SUI from validating transactions on the network's proof-of-stake system.
• One asset, one job. It is a grantor trust whose exposure is the price of Sui after expenses, bought and sold in a brokerage account like any other listed share.
• No seed phrases, no exchange logins, no picking validators. Custody and the staking mechanics sit with the trust instead of on your kitchen table.

• XRP One unitary 0.34% sponsor fee, with the sponsor covering most routine operating expenses. That undercuts Canary's XRPC (0.50%) for the same spot XRP exposure.sec.gov
• Boring by design: spot XRP only, no derivatives or leverage, held in segregated cold storage at Coinbase Custody with BNY Mellon handling administration and transfer agency.sec.gov
• NAV is struck against the CME CF XRP-Dollar Reference Rate (New York Variant), which aggregates executed trade flow from major XRP platforms instead of leaning on one venue's print.sec.gov
• Actively traded since day one, and it sits in the upper tier of US spot crypto funds on trading quality.

Worth knowing

• SUIS The 0.75% fee is more than double what the other spot Sui funds charge (TSUI at 0.30%, GSUI at 0.35%), so staking rewards have a bigger toll to clear before they add anything.
• Rewards stay inside the trust as more SUI. The fund has not been paying cash distributions, so anything staking adds shows up in the share price, not your account balance.
• A young, small fund that trades lightly. Spreads can run wider than in the largest crypto trusts, and the ride tracks a single layer-1 token rather than a basket.

• XRP One coin, one risk. Shares follow XRP and nothing else, and single-asset crypto moves are large in both directions.
• Not the cheapest ticket on the shelf: 21Shares' TOXR carries the same spot XRP exposure at 0.30%.
• Launched in November 2025, so the trading and tracking record is short, and the fund makes no distributions.

Full SUIS profile⁠

Full XRP profile⁠