Canary Capital is bullish about the price of SUI and has applied for an SUI ETF with the US Securities and Exchange Commission (SEC).
Asset manager Canary Capital submitted the S-1 form for the SUI ETF to the US Securities and Exchange Commission (SEC). Only a week has passed since the firm’s Delaware incorporation filing.
Canary Capital Files For SUI ETF
In an X post, a Bloomberg analyst, Eric Balchunas, disclosed that Canary Capital recently submitted the S-1 form for its SUI ETF to the US SEC. A week ago, the asset manager filed to incorporate the fund in Delaware, and this filing followed shortly after. This filing gives the SUI price, which is already anticipating a surge to as high as $7—a new all-time high for the cryptocurrency—a bullish outlook.
Canary Capital is the first asset manager to apply for a fund granting institutional investors access to SUI. In the meantime, the company has already applied to offer Solana, Hedera, and XRP ETFs. Last week, the asset manager submitted an S-1 to the SEC to introduce an exchange-traded fund (ETF) that tracks Axelar’s AXL token.
Introducing Sui to Public Markets
The Sui team responded to Canary Capital’s SUI ETF filing by saying this is a significant step in getting the coin into the public markets. The team added that Sui is ready for the major leagues, with over $70 billion in DEX volume, 67 million accounts, and institutional interest.
Canary’s filing, according to the Sui Foundation, is the most recent indication of TradFi’s confidence in the cryptocurrency, underscoring its potential as the “next global coordination layer for assets.” Grayscale, Franklin Templeton, VanEck, and Ant Financial are among the TradFi companies that have introduced investment products or initiatives on the Sui network.
Additionally, the foundation stated that these collaborations span from exchange-traded notes (ETNs) to tokenized funds, demonstrating the interest of international institutions in Sui’s “uniquely scalable infrastructure.”
Not to be overlooked is the recent partnership between the Sui network and Trump’s World Liberty Financial. WLFI declared its intention to establish a Strategic SUI Reserve as part of the collaboration.
