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Canary Capital recently filed an application to establish an Exchange Traded Fund (ETF) based on SUI in Delaware. This move indicates that the company may soon file the paperwork with the U.S. Securities and Exchange Commission (SEC) for approval, opening the opportunity to include SUI in the investment portfolios of major financial institutions in the U.S.
Canary Capital accelerates the plan to launch the SUI ETF
Canary Capital's progress in registering the trust fund comes as World Liberty Financial has just announced a partnership with the Sui blockchain. Under this agreement, World Liberty Financial will add the SUI Token to its "Macro Strategy" strategic reserve fund, marking an important step in making SUI a part of the digital asset portfolio for the institution.
Canary Capital is emerging as one of the leading asset managers focused on altcoin-related investment products, alongside Grayscale Investments. In addition to the plan to develop an ETF based on SUI, the company also has ambitions to expand its product portfolio to include ETFs tracking other digital assets such as Litecoin (LTC), XRP, Solana (SOL), and Hedera Hashgraph (HBAR).
Canary Capital expands its portfolio with the AXL ETF
Alongside the plan to launch the SUI ETF, Canary Capital has also filed an S-1 form with the SEC to seek approval for the Canary AXL ETF - a specialized investment product for the AXL Token of the Axelar network. Axelar is currently considered one of the most promising cross-chain blockchain platforms, enabling seamless connectivity between different blockchain ecosystems. The inclusion of AXL in the ETF portfolio reflects Canary Capital's strategy to expand into digital assets with strong growth potential.
If the application for the SUI ETF is approved by the SEC, Canary Capital will become the first asset management company in the U.S. to propose an ETF dedicated to the Sui blockchain, paving the way for institutional capital to flow into SUI and strengthening the position of this altcoin in the traditional financial market.
