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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