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Canary Capital applied to the U.S. Securities and Exchange Commission (SEC) for a Sui ETF. Crypto investors may soon have another exchange-traded fund (ETF) option. Read on to learn more.
The Sui ETF would let investors access Sui price fluctuations in a way that requires no direct management of the tokens.
What’s in the Filing?
Canary Capital submitted the proposal on March 17 using an S-1 form. However, it has not disclosed key details yet. The company has not revealed which exchange will list the Sui ETF or its ticker symbol. The fund will hold SUI tokens, letting investors track Sui’s price without storing them.
Sui is a layer-1 blockchain. According to CoinGecko, it currently ranks as the 23rd largest cryptocurrency, with a market cap of about $7.36 billion. SUI is trading at $2.31, up 7.3% over the past week but still 56.5% below its all-time high of $5.35 in January.
BREAKING: @CanaryFunds files for the first-ever SUI ETF!
This is a major step toward bringing Sui to public markets — if approved, the ETF will give investors direct exposure to SUI, further fueling institutional adoption.
With $70B+ DEX volume, 67M+ accounts and… pic.twitter.com/3KIrKVtXtT
— Sui (@SuiNetwork) March 17, 2025
This isn’t Canary’s first attempt at launching a crypto ETF. The firm has already filed for Solana (SOL), Litecoin (LTC), XRP, Hedera (HBAR), and Axelar (AXL) ETFs. The process still requires more approval, including Form 19b-4. The SEC must review these before listing the Sui ETF for trading.
Why Now?
The Sui ETF submission occurs when investors and analysts exhibit growing confidence in the crypto market. On March 6, Sui partnered with World Liberty Financial, a crypto platform backed by U.S. President Donald Trump. President Trump has declared plans for less restrictive crypto regulations, triggering many ETF submissions. The SEC maintains a slow pace towards making decisions on several matters.
Hester Peirce has indicated that the SEC will keep regulatory inaction until Paul Atkins receives Senate confirmation for the position of SEC Chair. Republican Paul Atkins faces March 27 hearings for his role as Trump’s new SEC chair.
An outstanding choice – Paul Atkins at the helm of the SEC will bring common sense back to the agency. Along with Hester Peirce and Mark Uyeda, it’s time to swiftly and definitively end the prohibition era on crypto, restoring freedom of choice, economic growth, and innovation. https://t.co/w8Rqrnubyj
— Brad Garlinghouse (@bgarlinghouse) December 4, 2024
Conclusion
A Sui ETF presents an important opportunity for investment in Sui assets without token ownership requirements. With SEC approval uncertain, crypto ETFs gain momentum, and Canary Capital leads the way. If approved, this ETF would mark another advancement. Regulatory approval would help crypto gain wider acceptance among mainstream users.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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