Canary Capital moves forward with an S-1 application for a spot SUI ETF, boosting market activity.
Canary Capital Launches Spot SUI ETF Filing
Canary Capital has advanced its plans by filing an S-1 registration for a spot SUI ETF. This decision was made subsequent to registering a SUI trust in Delaware on March 7, 2025.
Steven McClurg, founder of Canary Capital, confirmed the filing via Twitter, highlighting their belief in the Sui ecosystem’s potential. The firm aims to provide investors regulated exposure to Sui’s innovative blockchain.
Excited to announce Canary Capital’s S-1 filing for a spot SUI ETF. We believe in the potential of the Sui ecosystem and aim to provide investors with regulated exposure to this innovative blockchain.” – Steven McClurg, Founder, Canary Capital
SUI Price Jumps 8.3% Amid ETF News
SUI’s market activity surged, with the price increasing by 8.3% in 24 hours and active addresses up by 12%. This rise demonstrates the market’s optimism regarding the potential ETF.
Analysts such as Eric Balchunas emphasize the “intriguing choice” of Sui, acknowledging the SEC’s ongoing scrutiny of altcoin ETFs. This filing reflects the growing institutional interest in crypto diversification.
Canary Capital’s Previous ETF Pursuits Unresolved
Canary Capital has similarly pursued ETF filings for altcoins like XRP, Solana, and Litecoin. Approval for these remains pending, underscoring regulatory challenges.
Experts, including Raoul Pal, note that the growing number of altcoin ETFs signals increased institutional attention. Such filings could pave the way for more traditional finance exposure to cryptocurrency markets.
