Canary Capital Files SUI ETF with SEC
Asset manager Canary Capital has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its proposed SUI exchange-traded fund (ETF). This follows the firm's recent Delaware incorporation of the fund.
Canary Capital's SUI ETF Filing
Bloomberg analyst Eric Balchunas reported on X (formerly Twitter) that Canary Capital submitted the S-1 filing. This follows the asset manager's incorporation filing in Delaware a week prior. This news has generated positive sentiment for SUI, with price predictions reaching as high as $7, a new all-time high.
Canary Capital is the first asset manager to file for an ETF providing institutional investors with access to SUI. The firm also has pending filings for ETFs tracking XRP, Hedera, and Solana, and recently filed for an Axelar (AXL) ETF.
Sui's Entry into Public Markets
The Sui team welcomed Canary Capital's ETF filing, highlighting it as a major step toward broader market access. They cited over $70 billion in decentralized exchange (DEX) volume, 67 million accounts, and growing institutional interest as evidence of Sui's potential.
The Sui Foundation emphasized this filing as a significant vote of confidence from traditional finance (TradFi). They noted that various TradFi firms, including Grayscale, Franklin Templeton, VanEck, and Ant Financial, have already engaged with the Sui network through investment products or initiatives. These range from tokenized funds to exchange-traded notes (ETNs), showcasing institutional interest in Sui's scalable infrastructure. Trump's World Liberty Financial's recent partnership and plans to create a Strategic SUI Reserve further underscores this trend.
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