Canary Capital registers SUI ETF in Delaware

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.

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Canary Capital and Grayscale Investments have emerged as the most active asset managers in the push for altcoin investment vehicles. In addition to $SUI-based ETF, Canary also aims for funds that track other digital assets like Litecoin (LTC), XRP, Solana (SOL), and Hedera Hashgraph (HBAR).

On Wednesday, Canary Capital filed an S-1 registration with the SEC for the Canary $AXL ETF, which focuses on the $AXL token powering the Axelar Network.

Once a SEC filing is confirmed, Canary Capital will officially become the first asset manager to propose a Sui-based ETF in the US.