Is the Canary SUI ETF the Future of Crypto Investment?

Canary SUI ETF: Canary Capital Files Sixth Crypto Fund with SEC

Canary SUI ETF – On March 17, 2025, Canary Capital filed its sixth proposed crypto exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC), seeking approval for a fund tracking the spot price of Sui (SUI), a layer-1 blockchain token.

The ETF, named Canary SUI ETF, would directly hold Sui tokens, which are currently valued at $2.28 per token and rank as the 23rd largest cryptocurrency, with a market capitalization of approximately $7.36 billion, according to CoinGecko. The filing did not specify which exchange the ETF would list on or reveal the ticker symbol.

Sui’s Recent Market Performance

Sui has seen a slight uptick of 1.3% over the past day, trading at $2.31. Over the last week, the token has gained 7.3%, but remains down 56.5% from its January 5, 2025 all-time high of $5.35.

Canary Capital had previously registered a trust in Delaware for the fund on March 6, and the company is required to file Form 19b-4 with the SEC before it can be considered for approval.

Previous ETF Filings and Market Context

This filing represents Canary’s sixth attempt to launch a crypto ETF. In recent months, it has filed for ETFs tracking Solana (SOL), Litecoin (LTC), XRP (XRP), Hedera (HBAR), and Axelar (AXL). The timing of this filing aligns with Sui’s partnership announcement with World Liberty Financial, a crypto platform supported by U.S. President Donald Trump. The partnership could be a significant factor in driving future product development and market optimism.

Regulatory Landscape and SEC Delays

The SEC has delayed decisions on several crypto ETF filings, but the confirmation hearing for Paul Atkins, Trump’s SEC chair pick, is scheduled for March 27, 2025, further fueling the anticipation for future decisions on crypto-related financial products.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.