Canary Capital has officially filed with the SEC to create a new ETF tracking the value of the Sui (SUI) blockchain.
Canary's Plans for SUI ETF Launch
Hedge fund manager Canary Capital has formally requested SEC approval to launch an exchange-traded fund (ETF) linked to the value of Sui (SUI), a layer-1 blockchain.
Background and Previous Initiatives
Canary registered a trust entity in Delaware on March 7. This move marks the firm's ongoing drive into crypto ETFs, having aimed to create similar funds for Dogecoin (DOGE), Solana (SOL), and XRP.
Strategic Steps and Future Development
The decision to offer a SUI ETF follows World Liberty Financial (WLFI)'s announcement to include Sui assets in its token reserve and explore product development opportunities. Canary is now expected to take the next step by filing a 19b-4 document with SEC.
With further regulatory steps, Canary Capital aims to strengthen its position in the crypto ETF sphere by advancing its new Sui-based product.