Canary Capital is making a push into the crypto ETF market, recently submitting an S-1 filing to the U.S. Securities and Exchange Commission (SEC) for a fund focused on SUI.
This follows its move to establish the fund in Delaware just a week prior, signaling growing institutional interest in the asset.
Bloomberg’s Eric Balchunas reported on the filing, noting its potential impact on SUI’s market trajectory. If approved, the ETF could drive further price gains, with analysts eyeing a possible surge toward $7. Canary Capital has been actively expanding its crypto investment products, having already sought approval for ETFs linked to XRP, Hedera, Solana, and Axelar’s AXL token.
The Sui development team welcomed the ETF filing, calling it a step toward broader adoption. With over $70 billion in DEX trading volume and tens of millions of active accounts, the network is positioning itself as a major player.
The Sui Foundation sees this as another indication of traditional finance’s growing confidence in its ecosystem. Institutions such as Grayscale, Franklin Templeton, and VanEck have already launched financial products leveraging Sui’s infrastructure, spanning tokenized assets and exchange-traded notes.
Adding to this momentum, World Liberty Financial, an entity tied to Donald Trump, recently partnered with Sui, announcing plans to establish a Strategic SUI Reserve, further integrating the blockchain into the financial sector.
XRP has come under intensified selling pressure, sliding nearly 10% over the past week and signaling deeper concerns among derivatives traders.
Coinbase is gearing up to broaden its futures trading capabilities, introducing round-the-clock contracts for Solana (SOL), XRP, and Cardano (ADA) starting June 13.
Investor sentiment around the potential approval of a spot Solana ETF has surged in recent weeks, with new data suggesting growing confidence that 2025 could be the year the green light finally comes.
The U.S. Securities and Exchange Commission has made it clear it will no longer involve itself in regulating memecoins—tokens often driven by internet culture, hype, and political branding.