I presented Canary Capital S-1 registration With the US Securities and Exchange Committee to launch the first ETF for SUI, which represents a major development of the institutional adoption of the 1 Blockchain layer. If approved, the ETF will be traded on the main stock exchanges that offer both institutional investors and direct retail investors without the need for a direct code custody.
This deposit follows the former Canary registration of “Canary Sui Etf” in Delaware on March 6, indicating a move towards federal approval. It also comes after World Liberty Financial (WLFI), a central financing project linked to President Donald Trump, announced plans to include SUI in its strategic reserves.
Stephen McClurg, CEO of Canary Capital, discussed the rapid expansion of the SUI’s ecosystem, with reference to the influx of developers and projects.
We have seen a huge developer immigration in the SUI ecosystem. Looking at the speed and efficiency of the Sui series, we believe it will become a destination for many future projects. For a series that has been present for less than two years, it is already among the best 20 symbols in terms of market value.
Institutional demand for investment funds circulating in encryption
The investment funds circulating in encryption are gaining traction as asset managers are pressing for the wider exposure outside Bitcoin and Ethereum. Since SEC agreed to PTC and ETH ETF in 2024, companies have submitted the ongoing investment funds based on Altcoin, including Solana, XRP, Litecoin and Dogecoin.
The Canary Capital SUI ETF file is the VI CRYPTO ETF application, which joins that of Litecoin, Hedra, Axlaar, XRP and Solana. As other companies move quickly – from a chapter, Templeton has been submitted to get ETF XRP, Bitwise has applied to get ATF Aptos, and Vaneck Avalanche (Avax) ETF follows.
Despite these efforts, SEC has delayed decisions on many ETF requests, noting standard review procedures. However, the recent organizational transformations indicate a more open position, as the agency has brought down lawsuits against the main encryption companies and the formation of a specialized business squad.
