Canary Capital Files for Sui (SUI) ETF With the U.S. Securities and Exchange Commission (SEC)

The filing, made on March 17, requests approval for an exchange-traded fund (ETF) tracking the Sui token (SUI).

Canary Capital has filed for a Sui ETF with the U.S. Securities and Exchange Commission (SEC).

The firm is applying to launch an exchange-traded fund tracking the Sui token (SUI).

The application, filed on March 17, was submitted on Form S-1.

The document does not disclose which exchange will list the ETF or its ticker symbol.

If approved, the fund will directly hold Sui (SUI), the native token of the Sui blockchain, used for fees and staking.

Sui is the 23rd largest cryptocurrency with a market capitalization of about $7.36 billion, according to CoinGecko.

Its current price is $2.2544, down 0.27% over the last 24 hours.

The price has reached a high of $2.2609 and a low of $2.2516 during the same period.

However, it remains significantly below its January 5 peak of $5.35.

Canary Capital Delaware Trust Registration and SEC Filing Process

Before the SEC can consider the Sui ETF, Canary Capital registered a trust for the fund in Delaware on March 6.

The company must also submit a Form 19b-4 before the SEC can decide on its listing request.

This will be Canary Capital’s sixth attempt at launching a crypto ETF.

In previous filings, the firm applied for ETFs tracking Solana (SOL), Litecoin (LTC), XRP (XRP), Hedera (HBAR), and Axelar (AXL).

Sui’s Partnership With World Liberty Financial

The filing comes after Sui’s partnership with World Liberty Financial, announced on March 6.

This platform, backed by Donald Trump, added Sui to its “Macro Strategy” token reserve and considered future product integrations.

Trump has expressed support for cryptocurrency and stated that his administration would ease crypto regulations.

This has led to multiple crypto ETF applications as firms expect potential changes in SEC policies.

The SEC has been delaying decisions on several crypto ETF filings.

Commissioner Hester Peirce recently stated that the agency would wait until the Senate confirms Paul Atkins as the new SEC Chair to review its crypto agenda.

A Senate hearing for Atkins is scheduled for March 27, but delays have occurred due to financial disclosure issues.

The outcome of this confirmation process may affect the status of pending crypto ETF applications.