TL;DR
- Canary Capital recordsdata an SEC replace for its SUI ETF, to be listed on Nasdaq as $SUIS.
- The fund will maintain bodily SUI tokens and combine staking to generate yield.
- Custody will likely be managed by BigTru Belief, with day by day NAV based mostly on a CoinDesk index.
Canary Capital has submitted an updated filing to the U.S. Securities and Change Fee (SEC) for its SUI-based exchange-traded fund (ETF), with plans to listing the product on the Nasdaq Inventory Market beneath the ticker $SUIS. The modification, dated December 19, 2025, outlines key particulars together with charges, custody construction, staking mechanism, and day by day operations.
The ETF is designed to present direct publicity to the market value of SUI, the native token of the Sui blockchain. Not like monetary merchandise that rely on futures or artificial contracts, the $SUIS fund will maintain bodily SUI tokens, aiming to monitor the asset’s market worth whereas accounting for operational bills.
Staking to Be Built-in Into Fund Operations
The submitting confirms that staking will type a part of the ETF’s inner construction, marking a uncommon function amongst conventional exchange-traded funds. The Canary Staked SUI ETF will take part in Sui’s proof-of-stake (PoS) community, permitting the fund to earn rewards for validating transactions.
In accordance to the SEC doc, staking rewards could also be reinvested or managed on the sponsor’s discretion, relying on operational necessities. The construction goals to improve the fund’s whole worth whereas sustaining full publicity to the underlying asset.
“Staking rewards could also be reinvested or retained relying on operational wants,” the submitting states, summarizing the fund’s method to yield administration.
Day by day NAV and Custody Framework
The ETF will calculate its Web Asset Worth (NAV) every buying and selling day, utilizing the CoinDesk SUI USD CFIX Index as its pricing benchmark. The index aggregates information from a number of platforms to produce a consultant market worth for the SUI token.
Digital asset custody will likely be dealt with by BigTru Belief Firm, named because the official custodian within the submitting. In the meantime, UMB Financial institution, N.A. will handle the fund’s money operations and banking features, guaranteeing conventional monetary oversight alongside digital asset administration.
Authorized Construction and Providing Course of
The Canary Staked SUI ETF is not going to be registered beneath the Funding Firm Act of 1940 and can function with out an funding adviser. As a substitute, it’s going to comply with the mannequin utilized by commodity and crypto funds that maintain bodily property. Shares of the fund will likely be created and redeemed in batches of 10,000 items, referred to as baskets, by way of approved contributors.
The most recent submitting is assessed as a post-effective modification beneath Rule 462(c), which means it’s not a brand new registration however relatively an replace reflecting the fund’s finalized construction and providing framework.
Beforehand referred to as the Canary SUI ETF, the fund has been renamed Canary Staked SUI ETF to emphasize its integration of staking performance. The product combines direct digital asset publicity with yield technology, providing buyers a conventional funding car with blockchain-native returns beneath a regulated U.S. market construction.
