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Key Takeaways
- Canary Capital filed to establish a trust for a SUI-based ETF in Delaware.
- The proposed ETF is an initial step towards SEC registration and approval.
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Canary Capital has filed to establish a trust entity in Delaware for its proposed Canary SUI ETF—a move that signals a potential SEC submission for regulatory approval.
The move comes after World Liberty Financial announced its partnership with the Sui blockchain, with plans to add the project’s native crypto asset, SUI, to its strategic reserve fund “Macro Strategy.”
SUI jumped over 10% to $3 following the collaboration announcement. The digital asset, however, did not immediately react to the Canary SUI ETF news.
Canary Capital and Grayscale have emerged as the leading asset managers pursuing diversification into altcoin-based ETF offerings.
On Wednesday, Canary Capital filed an S-1 registration with the SEC for the Canary AXL ETF, which will track Axelar’s AXL token.
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This article first appeared at Crypto Briefing
