- Cboe BZX Exchange filed Form 19b-4 to list the Canary SUI ETF, offering direct spot market exposure to the SUI token.
- The ETF may stake its SUI holdings and receive rewards, though it will not claim assets from forks or airdrops.
- SUI price rose 2% after the filing, with broader crypto ETF development underway by Canary Capital.
The Cboe BZX Exchange has submitted a rule change proposal to the U.S Securities and Exchange Commission (SEC) seeking approval to list and trade the Canary SUI ETF. The application which was filed under Form 19b-4 was submitted on behalf of asset manager Canary Capital.
The proposed ETF would provide investors with spot market exposure to SUI, the native token of the Sui blockchain. If this is approved, it will be one of the first ETFs to track the performance of SUI and include staking as part of its structure.
SUI ETF Filing Advances Amid Broader Crypto Product Expansion
According to the filing, the ETF may stake all or a portion of its SUI holdings through trusted staking providers. In return, it would receive staking rewards, which may be considered income. The ETF has, however, disclaimed any rights to assets obtained through forks or airdrops, clarifying that such events will not affect its net asset value.
The move follows a broader trend of crypto-related exchange-traded fund applications, particularly after the SEC approved spot Bitcoin and Ethereum ETFs earlier this year. Canary Capital emphasized that its proposal includes safeguards to prevent fraud and manipulation, similar to those found in previously approved crypto ETFs.
The ETF would be issued through a trust that Canary Capital established in Delaware earlier in March. The asset manager filed its initial registration statement shortly thereafter. The firm’s broader strategy includes launching ETFs tied to multiple digital assets. Its Litecoin ETF, listed under ticker symbol LTCC, is already on the Depository Trust and Clearing Corporation (DTCC), signaling that it may be approaching launch.
The ETF would allow regulated investment in the SUI token, which powers the Sui blockchain—a layer 1 network focused on scalability and low-latency transactions. Canary Capital’s product could become a gateway for institutional and retail investors seeking exposure to the SUI ecosystem without directly purchasing the token on cryptocurrency exchanges.
The filing also comes shortly after World Liberty Financial (WLFI) announced a partnership with the Sui blockchain. WLFI is a crypto venture backed by the U.S President Donald Trump. WLFI revealed it would include Sui-based assets in its Macro Strategy fund. It also states that the partnership aims to co-develop blockchain-based financial products.
Canary Capital is actively exploring similar ETFs tied to other digital assets including XRP, Solana, Hedera and additional altcoins. Each new product depends on separate regulatory approval. But the asset manager appears to be accelerating its efforts to secure a foothold in the expanding crypto ETF sector.
