Canary Capital has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch an SUI exchange-traded fund (ETF). This move follows a recent announcement by World Liberty Financial (WLFI), a crypto venture backed by Donald Trump and his sons, stating that it would add Sui assets to its token reserves.
As a result of these developments, the SUI token saw a significant 8% price surge, reaching $2.4.
Canary Capital has taken a significant step by submitting an S-1 form to the SEC for the SUI ETF. This follows the firm’s earlier registration of a statutory trust in Delaware on March 7, a move typically made before an official SEC filing.
Now, Canary Capital also needs to file a 19b-4 form through the chosen exchange to list the ETF.
Meanwhile, the interest in SUI has been growing, especially after World Liberty Financial, a crypto venture linked to Donald Trump and his sons, partnered with the Sui blockchain.
Their goal is to explore new product development opportunities while adding Sui assets to their Macro Strategy fund. This development further strengthened the case for an SUI ETF.
The Sui team has welcomed Canary Capital’s ETF filing, calling it a major step in bringing the token to a wider audience. Sui’s growing influence is evident, with over $70 billion in decentralized exchange (DEX) trading volume and 67 million accounts.
Institutional investors have also started showing interest, positioning SUI as a serious player in the crypto space.
Beyond SUI, Canary Capital has been actively working on launching ETFs for other cryptocurrencies. The firm has already filed for an ETF tracking the AXL token, which powers the Axelar Network.
Additionally, Canary Capital has submitted ETF filings for Dogecoin (DOGE), Solana (SOL), and XRP, expanding its reach in the crypto investment market.
Following the ETF news, the SUI token is currently trading at $2.34. Despite being up 50% over the past year, SUI has seen a decline of about 31% in the last month. However, with growing institutional interest and ETF filings, the token could see further gains soon.
The crypto market is starting the week with a slight pullback. XRP is currently trading…
Since 2021, the crypto market has been waiting for another explosive Altcoin season, where prices…
With the Pi network coin price has been consolidating between $0.53 to $9.69 over the…
Bitcoin is currently trading near a critical resistance zone around $94,250, a level known as…
After hitting a record low earlier this month, Pi has been trading between $0.60 and…
Jed McCaleb’s departure from Ripple in 2014 has long been the subject of speculation. Many…