Key takeout
- Canary capital was submitted to Delaware to establish trust in SUI-based ETFs.
- The proposed ETF is the first step towards SEC registration and approval.
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Canary Capital submitted to establish a trust organization in Delaware for the proposed Canary Sui ETF. This is a move to indicate a potential SEC submission for regulatory approval.
The move was announced with World Liberty Financial announced its partnership with the SUI blockchain and plans to add the project's native Crypto Asset, SUI, to the strategic reserve fund, “Macro Strategy.”
SUI went above 10% to over $3, following the announcement of the collaboration. However, the digital assets did not respond immediately to Canary SUI ETF news.
Canary Capital and Grayscale Investments have emerged as the most active asset managers in promoting Altcoin investment vehicles. In addition to SUI-based ETFs, Canary also aims to fund its efforts to track other digital assets such as Litecoin (LTC), XRP, Solana (SOL), and Hedera Hashgraph (HBAR).
On Wednesday, Canary Capital submitted an S-1 registration to the SEC of Canary Ackul ETF, that It focuses on Axl tokens that power the Axlar network.
Once SEC filing is confirmed, Canary Capital will become officially the first asset manager to propose a SUI-based ETF in the US.
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