Canary Capital Seeks SEC Nod for SUI ETF as Crypto Investment Expands

• Canary Capital filed with the SEC to launch a SUI ETF as crypto investment products gain more interest.
• The SUI ETF filing follows World Liberty Fi adding SUI to its reserves showing growing institutional demand.
• SUI trades at $2.36 with a $7.4B market cap as more firms explore regulated investment products for the token.

Canary Capital filed with the Securities and Exchange Commission (SEC) on Monday to introduce a SUI exchange-traded fund (ETF). The move comes as institutional interest in digital asset investment products gains traction.

The firm’s application follows its recent Delaware Trust entity registration for a SUI ETF, a required step toward launching a regulated investment vehicle tracking the token’s price.

The application did not disclose the exchange where the ETF would be listed if approved. The development highlights the growing investor focus on SUI, a layer-1 blockchain attracting developers due to its speed and efficiency. 

The filing emerged just days after World Liberty Fi (WLFI), a decentralized finance project associated with former U.S. President Donald Trump, integrated SUI into its reserves. WLFI’s decision underscores increasing institutional attention on the token’s long-term potential.

Canary Capital’s pursuit of a SUI ETF aligns with a broader shift in regulatory attitudes toward cryptocurrency investments. Under the new administration, financial regulators have exhibited greater openness to digital asset-based products. 

Consequently, asset management firms such as VanEck, 21Shares, and Franklin Templeton have submitted applications for Solana and XRP ETFs. Canary Capital has also expanded its ETF offerings, previously filing for Litecoin and HBAR funds with the SEC. More recently, the firm has taken steps toward launching Solana and XRP-based ETFs.

SUI’s market position has strengthened over time. It holds the 23rd spot in cryptocurrency rankings, with a market capitalization exceeding $7.2 billion. Despite being a relatively new blockchain, SUI has already established itself as a key player in the crypto ecosystem.

Investment firms have already introduced SUI-focused products. Grayscale Investments launched the Grayscale Sui Trust in August 2024. The private investment vehicle lets accredited investors track SUI token values through its price movements. The SUI ETF would enable retail investors to access it through public stock exchanges such as Nasdaq, NYSE, or CBOE post approval.

Tags:Canary capital crypto investment Crypto market cryptocurrency SEC SUI ETF WLFI