Key Takeaways
Canary Capital filed to establish a trust for a SUI-based ETF in Delaware.
The proposed ETF is an initial step towards SEC registration and approval.
Canary Capital has filed to establish a trust entity in Delaware for its proposed SUI-based ETF, marking an initial step toward potential SEC registration.
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The filing follows World Liberty Financial’s partnership announcement with the Sui blockchain, which includes plans to incorporate SUI, the network’s native crypto asset, into its strategic reserve.
Canary Capital and Grayscale have emerged as the leading asset managers pursuing diversification into altcoin-based ETF offerings.
On Wednesday, Canary Capital filed an S-1 registration with the SEC for the Canary AXL ETF, which will track Axelar’s AXL token.