Canary Capital has filed its sixth proposed crypto exchange-traded fund (ETF) with US regulators, this time for one monitoring the spot value of the crypto token Sui.
In a March 17 Kind S-1 filing to the Securities and Alternate Fee, the crypto funding agency requested to checklist the Canary SUI ETF, which didn’t embody data on what change it might commerce on or the proposed ticker image.
The ETF would straight maintain Sui (SUI), the native token of the layer-1 blockchain used for charges and staking, which is the twenty third largest cryptocurrency with a market worth of round $7.36 billion, per CoinGekco.
Sui is buying and selling up 1.3% during the last day to $2.31 and has gained 7.3% over the week. It has, nonetheless, fallen 56.5% from its Jan. 5 all-time peak of $5.35.
Sui’s value during the last 24 hours hit a excessive of $2.38 however has since barely fallen. Supply: CoinGekco
Canary had registered a belief in Delaware on March 6 for the fund, and it should additionally file a Kind 19b-4 with the SEC earlier than the company can take into account whether or not to checklist it for buying and selling.
Canary’s Sui filing is its sixth crypto ETF bid with the SEC. Up to now few months, it filed for ETFs monitoring Solana (SOL), Litecoin (LTC), XRP (XRP), Hedera (HBAR) and Axelar (AXL).
The filing comes after Sui mentioned on March 6 that it partnered with World Liberty Monetary, the crypto platform backed by US President Donald Trump.
A part of the partnership noticed World Liberty embody the Sui token in its so-called “Macro Technique” token reserve and discover additional product alternatives collectively.
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Trump has promised to chill out regulatory enforcement in opposition to crypto, which has sparked a flurry of crypto ETF filings amid optimism that the SEC below his administration will transfer to greenlight them.
The SEC has delayed making decisions on a number of crypto ETF filings, however Commissioner Hester Peirce mentioned final month that the agency would wait till the Senate confirms Trump’s choose to chair the SEC, Paul Atkins, earlier than deciding on an agenda for crypto.
A Senate affirmation listening to for Atkins is reportedly slated for March 27, having been delayed on account of points with monetary disclosures.
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