Canary Capital is making strides towards launching an exchange-traded fund (ETF) that will monitor the value of Sui (SUI), a first-layer blockchain. This comes after the hedge fund management company recently filed an S-1 with the Securities and Exchange Commission (SEC). This noteworthy action follows the registration of a trust entity within Delaware state, which was documented on the state’s Division of Corporations website on March 7.
The firm has been actively engaged in submitting a series of crypto ETF filings to the SEC. These include prominent cryptocurrencies such as Dogecoin (DOGE), Solana (SOL), and XRP, among others. The move to initiate a SUI ETF was instigated just over a week after World Liberty Financial (WLFI), a decentralized finance (DeFi) platform affiliated with Trump, announced its intention to incorporate Sui assets into its token reserve, whilst also exploring potential product development opportunities.
This announcement had an immediate impact on SUI’s trading value, which currently sits at $2.34. The token has seen an impressive rise of over 52% in the past year, while the past month has seen a decline of approximately 31%. Canary Capital is anticipated to submit a 19b-4 document to the SEC, thereby formalizing its plans for a SUI fund.
