Canary files S-1 for Sui spot ETF

World Liberty Financial is partnering with Sui for product development and strategic reserve inclusion.

Key Takeaways

• Canary Capital filed for a spot ETF tracking SUI with the SEC.
• The ETF could increase SUI's liquidity and market capitalization.

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Canary Capital on Monday filed an S-1 registration statement with the US SEC for a spot ETF tracking SUI, the native token of the Sui Network.

The new filing comes after the asset manager registered a statutory trust for the SUI ETF in Delaware on March 6, a move that typically precedes the SEC submission. Canary Capital must also submit a 19b-4 filing through the chosen exchange for the ETF listing.

The filing follows a partnership between Trump-backed World Liberty Financial and the Sui blockchain, which included SUI in WLFI’s Macro Strategy reserve. SUI prices rose more than 10% after the partnership announcement.

Canary Capital is also pursuing other crypto ETF offerings, having filed an S-1 registration for an Axelar (AXL) ETF. The firm is exploring funds tracking other digital assets including Litecoin, XRP, Solana, and Hedera.

This is a developing story.

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