Crypto investment firm Canary Capital has filed its sixth crypto exchange-traded fund (ETF) application with U.S. regulators, this time seeking approval for an ETF tracking the spot price of Sui (SUI).
According to a March 17 Form S-1 filing with the Securities and Exchange Commission (SEC), the proposed Canary SUI ETF would directly hold Sui tokens, but details on the listing exchange or ticker symbol remain undisclosed.
Sui, a layer-1 blockchain token used for transaction fees and staking, is currently the 23rd largest cryptocurrency with a market cap of approximately $7.36 billion. The token is trading at $2.31, up 1.3% on the day and 7.3% over the past week, though it remains down 56.5% from its January 5 all-time high of $5.35.
Canary’s Expanding Crypto ETF Portfolio
This marks Canary Capital’s sixth crypto ETF filing in recent months. The firm has already submitted applications for ETFs tracking Solana (SOL), Litecoin (LTC), XRP, Hedera (HBAR), and Axelar (AXL), signaling a broader push to introduce regulated crypto investment products.
While the SEC has yet to approve ETFs for these assets, the growing number of filings reflects industry optimism, especially as the regulatory environment for crypto ETFs continues to evolve.
Sui’s Trump-Backed Partnership Fuels Market Interest
The filing comes on the heels of Sui’s March 6 partnership with World Liberty Financial, a crypto platform backed by former U.S. President Donald Trump.
As part of the collaboration, World Liberty added Sui to its “Macro Strategy” token reserve and is exploring further product opportunities with the Sui network. The association with Trump has added momentum to Sui’s market performance, as the former president has vowed to ease crypto regulations if re-elected.
Regulatory Outlook: Awaiting a New SEC Chair
Despite the surge in ETF applications, the SEC has delayed decisions on multiple crypto ETF proposals. However, Commissioner Hester Peirce recently stated that the agency will likely hold off on major crypto policy moves until the Senate confirms Trump’s SEC chair nominee, Paul Atkins.
Atkins’ confirmation hearing is reportedly scheduled for March 27, following delays related to financial disclosure issues. If approved, his leadership could influence the SEC’s stance on crypto ETFs, potentially paving the way for approvals.
