Canary Capital proposes first Sui ETF in US SEC filing 📈
Canary Capital has proposed its sixth cryptocurrency exchange-traded fund (ETF) to U.S. regulators, this time focusing on the Sui token. The new ETF, filed in a March 17 Form S-1 submission to the Securities and Exchange Commission (SEC), aims to track the spot price of Sui, the native token of the layer-1 blockchain used for fees and staking.
Sui, currently priced at $2.31, has experienced a 7.3% gain over the week but is still down 56.5% from its all-time high in January. Canary Capital's Sui filing adds to its lineup of ETF bids, which include funds tracking Solana, Litecoin, XRP, Hedera, and Axelar.
The filing follows Sui's partnership with World Liberty Financial, backed by Donald Trump, to include the Sui token in its "Macro Strategy" token reserve. Optimism surrounds crypto ETF filings, with speculations that the SEC might greenlight them under Trump's administration.
The SEC has delayed decisions on several crypto ETFs but may proceed after the Senate confirms Trump’s SEC chair nominee, Paul Atkins. The confirmation hearing for Atkins is reportedly set for March 27.
Source: cointelegraph.com ↗
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