Canary Capital Files for SEC Approval of SUI ETF

Canary Capital has formally filed with the U.S. SEC for approval of an exchange-traded fund (ETF) designed to track the price of SUI, the native token of the Sui blockchain.

This filing follows a prior move by the firm to register a trust for the fund in Delaware, underscoring its commitment to expanding its crypto-focused investment offerings. This marks Canary Capital’s sixth such filing with the SEC for a crypto ETF, having previously filed for funds linked to well-established assets such as Solana, Ripple, and Hedera.

The approval of the SUI ETF, which could significantly influence the asset's price, is seen as a step towards broader institutional adoption of Sui. Analysts anticipate that, should the ETF be approved, the token’s price could rise as high as $7.

Sui, with its extensive decentralized exchange trading volume and growing active user base, is positioning itself as a key player in the blockchain sector. Canary’s filing comes on the heels of a strategic partnership between Sui and World Liberty Financial, an entity linked to former U.S. President Donald Trump, which aims to integrate the Sui blockchain further into the financial ecosystem.