Canary Capital has filed an application to register an SUI ETF with the U.S. Securities and Exchange Commission, furthering its position in the cryptocurrency sector.
Structure of the SUI ETF and Canary Capital’s Plans
Proposed to be the first of its kind in the U.S., the Canary SUI ETF will be structured as a trust. The company stated its intention to stake some of its SUI through providers to establish validator nodes, a process that may lead to taxation related to staking rewards.
Various Ways to Invest in SUI
SUI is the native token of the Sui network, developed by Mysten Labs. The network's speed and scalability make it suitable for gaming and high-frequency trading. Other issuers like Valour offer SUI-based products in Sweden and Switzerland, while VanEck and Grayscale have products tracking SUI in the form of ETNs.
Canary Capital's Altcoin Ambitions
The SUI ETF is not Canary Capital’s only initiative. The company has applied for several other crypto ETFs, including Litecoin, Hedera, Solana, and XRP, demonstrating its serious intentions to solidify its position in the altcoin sector.
Canary Capital is advancing its presence in the cryptocurrency market, aiming to lead in the creation of ETFs for a variety of digital assets.
