- Canary Capital has registered a SUI-ETF in Delaware and thus took a further step to expand the institutional crypto investment options beyond Bitcoin and Ethereum.
- The approval of the SEC remains an important hurdle for the SUI-ETF, since crypto-based ETFs are difficult to register in the USA apart from Bitcoin and Ethereum.
Canary Capital has a SUI-based stock exchange-traded fund (ETF) in Delaware registered. This step not only extends the company’s portfolio, but also shows the increasing institutional investments in digital assets. So does this mean that a SUI ETF will be on the market shortly?
JUST IN: Canary Capital registers for a $SUI ETF in Delaware. pic.twitter.com/lDY7uKLZqQ
— Whale Insider (@WhaleInsider) March 7, 2025
The strategy of Canary Capital
Canary Capital seemed to have a clear plan right from the start: to offer ETFs for initiatives outside the dominance of Ethereum and Bitcoin. Just one week after trying to register an ETF for XRP, you also registered a Litecoin (LTC) before the SUI ETF registration. This indicates that you want to offer investors who want to get into the crypto room a larger selection that is not limited to the direct purchase of assets.
In the past, Canary Capital not only aimed at an ETF, but also actively founded trust companies for various digital assets. According to an earlier CNF report, for example, the company has launched the AXL Trust to enable institutional investments in Axelar.
Fascinatingly, Axelar has developed over several alliances, including one with ripple that improves the compatibility of the XRPL network. With a similar strategy, SUI, the ETF is approved, should also develop a similar dynamic.
Sui in the spotlight: the right momentum?
The time of the Canary Capital campaign seems to be quite interesting for Sui. Vaneck, which wants to reproduce the performance of the Marketvector SUI VWAP Close Index (MVSuiv), introduced Vaneck Sui Exchange-Traded Note (ETN) in February, which is fully underlaid with SUI tokens. So investors actually show a real demand for SUI-based financial solutions.
In addition, the price development of SUI was also quite impressive. At the time of the editorial deadline, the token was traded for about $ 2.83, an increase of 6.38 % in the last 24 hours. This increase has also led to the market capitalization exceeded the $ 8.9 billion mark. If this trend continues, Canary Capital becomes more confident of bringing the SUI ETF to the official approval.
RegulatoryOrder: Will the SEC agree?
Regulation is a great obstacle that Canary Capital has to overcome, even if your measures seem encouraging. In the United States, crypto -based ETFs that are not based on Bitcoin or Ethereum have so far come across major problems. Although several suggestions are currently being examined, the SEC has not yet approved any alternative crypto ETFs.
In addition, the establishment of a trust in Delaware does not mean that the ETF is commercially capable. It is only the first step that enables a formal application to make a formal application at the SEC. Experience from the past shows that this process can take a long time. Spot-based Bitcoin ETFs were only approved after years of submitting and revisions.
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