Canary Capital proposes first Sui ETF in US SEC filing

Canary Capital has filed its sixth proposed crypto exchange-traded fund (ETF) with US regulators, this time for one tracking the spot price of the crypto token Sui.In a March 17 Form S-1 filing to the Securities and Exchange Commission, the crypto investment firm requested to list the Canary SUI ETF, which didn’t include information on what exchange it would trade on or the proposed ticker symbol.The ETF would directly hold Sui (SUI), the native token of the layer-1 blockchain used for fees and staking, which is the 23rd largest cryptocurrency with a market value of around $7.36 billion, per CoinGekco.Sui is trading up 1.3% over the last day to $2.31 and has gained 7.3% over the week. It has, however, fallen 56.5% from its Jan. 5 all-time peak of $5.35.Sui’s price over the last 24 hours hit a high of $2.38 but has since slightly fallen. Source: CoinGekcoCanary had registered a trust in Delaware on March 6 for the fund, and it must also file a Form 19b-4 with the SEC before the agency can consider whether to list it for trading.Canary’s Sui filing is its sixth crypto ETF bid with the SEC. In the past few months, it filed for ETFs tracking Solana (SOL), Litecoin (LTC), XRP (XRP), Hedera (HBAR) and Axelar (AXL).The filing comes after Sui said on March 6 that it partnered with World Liberty Financial, the crypto platform backed by US President Donald Trump.Part of the partnership saw World Liberty include the Sui token in its so-called “Macro Strategy” token reserve and explore further product opportunities together.Related: Hashdex amends S-1 for crypto index ETF, adds seven altcoinsTrump has promised to relax regulatory enforcement against crypto, which has sparked a flurry of crypto ETF filings amid optimism that the SEC under his administration will move to greenlight them.The SEC has delayed making decisions on multiple crypto ETF filings, but Commissioner Hester Peirce said last month that the agency would wait until the Senate confirms Trump’s pick to chair the SEC, Paul Atkins, before deciding on an agenda for crypto.A Senate confirmation hearing for Atkins is reportedly slated for March 27, having been delayed due to issues with financial disclosures.Magazine: Crypto fans are obsessed with longevity and biohacking — Here’s why Weiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei Cointelegraph