Canary Capital Files for Sui ETF with SEC
In a significant move for the cryptocurrency market, Canary Capital has officially submitted documents to the Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will track the price of Sui (SUI), a promising layer-1 blockchain. This filing was made public on Monday when the firm registered an S-1 filing with the SEC, following the establishment of a trust entity in Delaware on March 7, as listed on the state’s Division of Corporations website.
Canary Capital is no stranger to the crypto ETF landscape, having filed for various cryptocurrency ETFs in recent months, including those targeting Dogecoin (DOGE), Solana (SOL), and XRP, among others. The decision to introduce a SUI ETF comes on the heels of an announcement from the Trump-affiliated decentralized finance (DeFi) platform World Liberty Financial (WLFI), which revealed plans to include Sui assets in its token reserves and to explore potential product development opportunities.
The news has had a positive impact on SUI, which is currently trading at $2.34. Over the past year, the token has seen a remarkable increase of over 52%. However, when examining a shorter timeframe, SUI has experienced a decline of approximately 31% in the last month.
Looking ahead, Canary Capital is anticipated to file a 19b-4 document with the SEC, which will formalize its intentions for the SUI fund, signaling a new chapter in the evolution of cryptocurrency investment vehicles.
