- Canary Capital has filed an S-1 registration with the SEC for a Sui ETF.
- This marks the firm’s initial move towards an ETF for the altcoin after previously registering a Sui Trust in Delaware.
- The recent filing comes after the SEC postponed its decision on several applications for altcoin ETFs.
On Monday, SUI experienced modest gains as Canary Capital submitted an S-1 application with the Securities and Exchange Commission (SEC) for a Sui exchange-traded fund (ETF). This contributes to the growing roster of altcoin ETF applications awaiting regulatory approval.
SUI surges 6% as Canary Capital files S-1 for Sui ETF
Canary Capital made an S-1 registration filing with the SEC on Monday to establish a Sui ETF. This ETF is designed to provide investors with exposure to the price movement of SUI, the native token of the Layer-1 Sui blockchain network.
This filing positions Canary Capital as the first company to seek approval for an SUI ETF after previously registering a Sui Trust in Delaware earlier this month. This step is typically a precursor to filing for an ETF with the SEC.
Sui has recently forged partnerships, including one with President Donald Trump’s World Liberty Financial in March. The aim of this collaboration is to explore product development opportunities and to incorporate Sui assets into its strategic cryptocurrency reserve.
Canary Capital’s latest application follows a series of filings from the firm aimed at launching multiple altcoin ETFs, including those for Litecoin, XRP, Dogecoin, Solana, and Axelar.
Nevertheless, the SEC recently announced a postponement regarding its decisions on these ETF applications. This includes submissions from several other firms like Grayscale, Bitwise, 21Shares, and WisdomTree.
These delays may be linked to the pending confirmation of Paul Atkins, the nominee for SEC chair put forth by President Trump.
Bloomberg ETF analyst James Seyffart commented that such delays are typical for the SEC. The agency frequently extends its review periods to conduct comprehensive evaluations; final deadlines for decisions are typically established months in advance. Regardless, the SEC has 240 days to determine whether to approve or deny any altcoin ETF application.
In the wake of this announcement, SUI rose by 6%, bringing its weekly gains to double digits. This suggests that investors may be eager to seize the opportunity presented by the recent filing to start accumulating the token.