Cboe Files to List First-Ever SUI ETF Backed by Canary Capital
- Cboe filed a 19b-4 request with the SEC to list the first U.S. ETF backed by SUI.
- If approved, it would be the first U.S. ETF to hold and stake the Sui Network’s native token.
Canary Capital has taken a significant step toward launching the first U.S. exchange-traded fund (ETF) tied to the Sui Network’s native token, SUI. The asset manager filed an S-1 registration for the proposed ETF in March. On April 8, the Cboe BZX Exchange submitted a 19b-4 rule change request to the U.S. Securities and Exchange Commission (SEC) to list and trade the fund.
If approved, the Canary SUI ETF would be the first U.S. ETF to hold SUI, a layer-1 blockchain token currently ranked 21st by market cap. SUI trades near $1.94, with a market cap of around $6.7 billion, according to CoinGecko. The Sui Network, launched in May 2023, competes with Solana and Ethereum. It uses a dual-layer consensus model called Narwhal and Bullshark.
SUI ETF Gains Momentum
The ETF may stake part of its SUI holdings through trusted providers. According to regulatory filings, the fund aims to collect staking rewards as income. Cboe emphasized that existing surveillance tools can prevent fraud and manipulation, mirroring SEC-approved Bitcoin and Ethereum ETF safeguards.
Canary Capital has set up a Delaware trust for the SUI ETF. This move follows its earlier attempts to list ETFs for Litecoin, Hedera, XRP, and Solana. The firm’s Litecoin ETF, listed under the ticker LTCC, has already appeared on the DTCC site, signaling possible launch readiness.
The SEC must approve the 19b-4 rule change before Cboe can list the ETF. Canary’s move comes after dozens of crypto ETF filings in 2024. Since President Trump took office in January, the SEC has acknowledged new proposals for ETFs based on altcoins and memecoins, including Dogecoin and the Trump-themed token TRUMP.
Sui aims to offer Web3 functionality with a user-friendly experience. The network hosts projects like SatLayer, which provides Bitcoin staking and is compatible with the Phantom wallet. Sui currently holds about $1.1 billion in total value locked, per DefiLlama.
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Cboe Files to List First-Ever SUI ETF Backed by Canary Capital
- Cboe filed a 19b-4 request with the SEC to list the first U.S. ETF backed by SUI.
- If approved, it would be the first U.S. ETF to hold and stake the Sui Network’s native token.
Canary Capital has taken a significant step toward launching the first U.S. exchange-traded fund (ETF) tied to the Sui Network’s native token, SUI. The asset manager filed an S-1 registration for the proposed ETF in March. On April 8, the Cboe BZX Exchange submitted a 19b-4 rule change request to the U.S. Securities and Exchange Commission (SEC) to list and trade the fund.
If approved, the Canary SUI ETF would be the first U.S. ETF to hold SUI, a layer-1 blockchain token currently ranked 21st by market cap. SUI trades near $1.94, with a market cap of around $6.7 billion, according to CoinGecko. The Sui Network, launched in May 2023, competes with Solana and Ethereum. It uses a dual-layer consensus model called Narwhal and Bullshark.
SUI ETF Gains Momentum
The ETF may stake part of its SUI holdings through trusted providers. According to regulatory filings, the fund aims to collect staking rewards as income. Cboe emphasized that existing surveillance tools can prevent fraud and manipulation, mirroring SEC-approved Bitcoin and Ethereum ETF safeguards.
Canary Capital has set up a Delaware trust for the SUI ETF. This move follows its earlier attempts to list ETFs for Litecoin, Hedera, XRP, and Solana. The firm’s Litecoin ETF, listed under the ticker LTCC, has already appeared on the DTCC site, signaling possible launch readiness.
The SEC must approve the 19b-4 rule change before Cboe can list the ETF. Canary’s move comes after dozens of crypto ETF filings in 2024. Since President Trump took office in January, the SEC has acknowledged new proposals for ETFs based on altcoins and memecoins, including Dogecoin and the Trump-themed token TRUMP.
Sui aims to offer Web3 functionality with a user-friendly experience. The network hosts projects like SatLayer, which provides Bitcoin staking and is compatible with the Phantom wallet. Sui currently holds about $1.1 billion in total value locked, per DefiLlama.
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What’s the Story Behind Michael Saylor’s Strategy Filing With SEC For Potential BTC Selling?
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