Canary Capital has filed documents with the Securities and Exchange Commission (SEC) to initiate an exchange-traded fund (ETF) focused on Sui (SUI), a layer-1 blockchain.

Key Points:

• Canary Capital submitted an S-1 filing to the SEC on March 7 after establishing a trust entity in Delaware.
• The firm has previously filed multiple ETF applications concerning cryptocurrencies like Dogecoin (DOGE), Solana (SOL), and XRP.
• This initiative follows World Liberty Financial’s announcement that it would include Sui assets in its token reserves and explore development opportunities.

SUI’s price surged as a result of this news, currently trading at $2.34. It has seen over a 52% increase in the past year but is down about 31% in the last month.

Canary Capital is expected to formalize its SUI fund plans by filing a 19b-4 document with the SEC.