YEREVAN (CoinChapter.com) — Canary Capital has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for a Sui ETF. The filing, made on March 17, requests approval for an exchange-traded fund (ETF) tracking the Sui token (SUI).
The application, registered under Form S-1, 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 ranks as the 23rd largest cryptocurrency, with a market capitalization of about $7.36 billion, according to CoinGecko. Its current price stands at $2.2544, reflecting a 0.27% decrease over the last 24 hours. The price 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 marks Canary Capital’s sixth attempt at launching a crypto ETF. In previous filings, the firm sought approval 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, stating that his administration would ease crypto regulations. This has led to multiple crypto ETF applications as firms expect potential changes in SEC policies.
SEC’s Crypto ETF Delays and Senate Confirmation Hearing
The SEC has delayed decisions on multiple crypto ETF filings. Commissioner Hester Peirce recently stated that the agency would wait until the Senate confirms Paul Atkins as the new SEC Chair before reviewing its crypto agenda.
A Senate hearing for Atkins is scheduled for March 27, though delays have occurred due to financial disclosure issues. The outcome of this confirmation process may impact the status of pending crypto ETF applications.
