Catenaa, Wednesday, March 26, 2025 –Canary Capital Group, a digital asset investment firm, filed a proposal with U.S. regulators on Monday to launch an exchange-traded fund (ETF) tied to the spot price of Sui, a cryptocurrency linked to the Sui Network blockchain. This filing marks the sixth cryptocurrency-related ETF submission by Canary Capital, reflecting a surge of similar filings in recent months.
The move is part of a broader trend of growing ETF proposals for various cryptocurrencies, a wave accelerated by the election of President Donald Trump last November. Trump’s pledges to reform digital asset regulations have sparked optimism among market participants, with hopes that the U.S. Securities and Exchange Commission (SEC) will approve numerous filings by the end of 2025.
Canary’s proposed Sui ETF would be the first of its kind. Sui, with a market capitalization of over $7.4 billion, ranks among the top 25 cryptocurrencies by market cap. ETF issuers have also filed for approval to list ETFs on coins like Solana and XRP, with multiple applications pending for both.
However, McClurg noted that approval of new ETFs may be delayed until Trump’s SEC chair nominee, Paul Atkins, is confirmed by the Senate.
