Digital belongings funding agency Canary Capital Group mentioned Monday that it filed for regulatory approval to launch an exchange-traded fund (ETF) tied to the spot worth of Sui, a token related to Sui Community.
If accepted, this could mark the first-ever ETF linked to Sui, a blockchain-based asset with a market capitalization exceeding $7.4 billion, rating it among the many high 25 cryptocurrencies.
The submitting provides to Canary Capital’s increasing listing of crypto ETF functions, bringing its whole submissions to 6.
The transfer additionally exhibits a rising wave of ETF proposals focusing on a broader vary of digital belongings, as crypto companies search regulatory readability and funding accessibility.
BREAKING
@SuiNetwork ETF is coming quickly! Canary Capital has filed an SUI ETF with the SEC within the U.S. pic.twitter.com/fTAIWpupH1
— Sui Nook (@SuiCorner) March 17, 2025
Trump’s Election Sparks Wave of Crypto ETF Filings
Since President Donald Trump’s election in November, ETF filings have surged, reflecting trade optimism that the Securities and Change Fee (SEC) might take a extra favorable stance towards crypto-related monetary merchandise.
Trump’s administration has signaled a shift in crypto regulation, prompting expectations that the SEC’s new management might approve a wider vary of digital asset ETFs. Already, regulators have dropped enforcement actions towards main crypto companies and are contemplating rolling again stricter custody guidelines for funding advisors dealing in digital belongings.
Crypto ETF Enlargement Good points Momentum Past Bitcoin and Ether
The race to develop crypto ETF choices is accelerating. Issuers have already submitted filings for ETFs on at the very least 10 cryptocurrencies past Bitcoin and Ether, which debuted as tradable ETFs in 2024. Among the many most sought-after belongings for ETF inclusion are Solana and XRP, with six pending functions every.
If Canary Capital’s Sui ETF good points approval, it might pave the way in which for additional diversification in crypto funding merchandise, providing institutional and retail buyers a regulated, accessible option to acquire publicity to rising digital belongings. The choice now rests with the SEC, whose stance on these functions will form the subsequent section of cryptocurrency’s integration into mainstream finance.
The submit Canary Capital Group Seeks Approval for Sui-Primarily based ETF appeared first on Cryptonews.