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Canary Capital Files for SUI ETF After Reserve Deal With World Liberty Financial
The move comes after World Liberty Financial said it would add Sui assets to its token reserve earlier this month.
What to know:
- Canary Capital has filed paperwork with the SEC to launch a Sui (SUI) exchange-traded fund.
- The firm in recent weeks filed multiple crypto ETF applications with the SEC, including for Dogecoin (DOGE), Solana (SOL) and XRP.
- Earlier this month, Trump-affiliated decentralized finance (DeFi) platform World Liberty Financial (WLFI) said that it would add Sui assets to its token reserve.
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.
STORY CONTINUES BELOW
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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 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.
Helene Braun
Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
