cryptonews.net
Asset manager Canary Capital is seeking SEC approval to launch a staking-involving Sui ETF. Cboe BZX has filed a Form 19b-4 with the SEC proposing a rule change for the listing and trading of shares of the Canary SUI ETF. It is the first proposed ETF designed to track the performance of SUI, the native coin of a well-known Layer 1 network.
As noted in the filing, the ETF can stake portions of its assets through trusted staking providers. Canary Capital, an asset manager looking to launch cryptocurrency-linked ETFs, set up a Delaware trust for its SUI product in early March. More than a week later, the firm filed its initial registration statement with the SEC, officially joining the Sui ETF race.
The proposed fund would track the spot price of SUI, a crypto asset currently ranked 21st largest with a market cap of around $6.7 billion. Canary Capital is ramping up its efforts to launch a suite of crypto ETFs. The firm is exploring multiple ETF products tied to other well-known assets such as Litecoin, XRP, Solana, and Hedera, to name a few.
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