Canary Capital Files for First SUI ETF Tracking Spot Price
1min read Canary Capital has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for the first exchange-traded fund (ETF) tracking the spot price of the cryptocurrency token sui. This filing, made on March 17, 2025, is part of Canary Capital's ongoing efforts to expand its crypto investment offerings. The proposed ETF, named the Canary SUI ETF, aims to provide investors with a regulated and accessible way to gain exposure to the Sui Network, a layer-1 blockchain used for fees and staking.
The SUI ETF would directly hold Sui tokens, which are the native cryptocurrency of the Sui Network. This move by Canary Capital is significant as it represents the firm's sixth crypto ETF filing with the SEC, following previous proposals for ETFs tracking Solana, Litecoin, XRP, Hedera, and Axelar. The filing comes at a time when there is growing institutional interest in cryptocurrency ETFs, with numerous applications being submitted to the SEC for various altcoins.
Canary Capital's filing for the SUI ETF is part of a broader trend of increasing acceptance of cryptocurrencies as a legitimate asset class. The approval of the SUI ETF would not only be a victory for Canary Capital but also for the Sui Network, potentially leading to increased adoption and value for the SUI token. The SEC is expected to review the application and provide a response by October 2025. The approval of the SUI ETF would mark a significant milestone for the cryptocurrency industry, demonstrating the SEC's openness to embracing innovative financial products.
In addition to the SUI ETF filing, Canary Capital has also registered a trust in Delaware for the fund and must file a Form 19b-4 with the SEC before the agency can consider whether to list it for trading. This move is part of Canary Capital's broader strategy to diversify its crypto offerings and provide investors with a range of regulated investment products in the crypto space. The approval of the SUI ETF would not only be a victory for Canary Capital but also for the Sui Network, potentially leading to increased adoption and value for the SUI token.
