Canary Capital Group, an institutional crypto trading and management firm, filed for a Sui exchange-traded fund (ETF) with the Securities and Exchange Commission, according to a Mar. 17 filing with the agency.
The fresh filing could pave the way for the first Sui ETF in the United States under an SEC that's more amiable to cryptocurrency and related investment products. Moreover, the Sui ETF would emerge after World Liberty Financial, a decentralized financial project linked to U.S. President Donald Trump, noted plans to put SUI in its strategic reserves.
"We have seen a massive move of developers into the SUI ecosystem," Canary Capital CEO Steven McClurg told The Block in an email. "Given the speed and efficiency of the SUI chain, we believe it will be a destination for many future projects. For a chain that has been in existence for less than two years, it is already a top 20 market cap token."
Sui investment products already exist, even if they're not ETFs. For instance, the crypto asset manager Grayscale Investments launched the Grayscale Sui Trust in August 2024. According to the trust's website, it's a private investment vehicle that gives "accredited investors" exposure to SUI, in which the trust's shares track with SUI's price movements. A Sui ETF would trade on a public stock exchange, such as CBOE, NYSE, or Nasdaq, and would be open to any investor.
On March 6, the "Canary Sui ETF" was created via an official Delaware registration portal, suggesting Canary would proceed with an official S-1 filing at the federal level, The Block previously reported. The Sui filing marks Canary's sixth crypto asset ETF filing alongside Litecoin, Hedera, Axelar, XRP and Solana.
Sui is a Layer 1 blockchain created by Mysten Labs, a firm founded by former Meta employees. The blockchain's native token, SUI, maintains a $7.4 billion market capitalization. The token's price reached $2.35, rising 3.15% in the past 24 hours as of publication, according to The Block's SUI Price page.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
