Canary Capital has submitted paperwork with the Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the price of Sui (SUI), a layer-1 blockchain.
The hedge fund manager on Monday submitted an S-1 filing with the SEC after previously registering a trust entity in the state of Delaware — on March 7 — which appeared on the state’s Division of Corporations website.
Canary Capital has filed several crypto ETF filings with the Securities and Exchange Commission (SEC) in recent months, including for Dogecoin (DOGE), Solana (SOL) and XRP, among others.
The decision to launch a SUI ETF comes 10 days after Trump-affiliated decentralized finance (DeFi) platform World Liberty Financial (WLFI), said that it would add Sui assets to its token reserve and explore product development opportunities.
SUI jumped on the news, currently trading at $2.34. While the token is up over 52% over the past 12 months, zooming into the past month, it is down about 31%.
Canary Capital is now expected to file a 19b-4 document with the SEC, making its plans for a SUI fund official.