Canary Capital Files for SUI ETF, SUI token Jump by 8%
The post Canary Capital Files for SUI ETF, SUI token Jump by 8% appeared first on Coinpedia Fintech News
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’s Push for a SUI ETF
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.
How SUI Is Gaining Market Attention
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.
Canary Capital’s Other Crypto ETF Filings
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.
