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Highlights
- Canary Capital has filed the S-1 for its SUI ETF, a week after incorporating it in Delaware.
- This provides a bullish outlook for the SUI price.
- The Sui team stated that this is a major step in bringing Sui to the public markets.
Asset manager Canary Capital has filed the S-1 form for its SUI ETF with the US Securities and Exchange Commission (SEC). This comes just a week after the firm filed in Delaware to incorporate the fund.
Canary Capital Files For SUI ETF With US SEC
In an X post, Bloomberg analyst Eric Balchunas revealed that Canary Capital has just filed the S-1 form for its SUI ETF with the US SEC. This filing comes just after the asset manager filed to incorporate the fund in Delaware a week ago. This provides a bullish outlook for the SUI price, which is already eyeing a rally to as high as $7, which will mark a new ATH for the crypto.
Canary Capital becomes the first asset manager to file for a fund that will provide institutional investors access to SUI. Meanwhile, the firm already filed to offer an XRP, Hedera, and Solana ETFs. Last week, the asset manager filed an S-1 with the SEC to launch an ETF tracking Axelar’s AXL token.
Major Step In Bringing Sui To Public Markets
Reacting to Canary Capital’s SUI ETF filing, the Sui team stated that this development is a major step toward bringing the coin to the public markets. The team added that with over $70 billion DEX volume, 67 million accounts, and institutional interest, Sui is primed for the big leagues.
Meanwhile, the Sui Foundation stated that Canary’s filing is the latest vote of confidence from TradFi, which further highlights the crypto’s potential as the “next global coordination layer for assets.” TradFi firms, including Grayscale, Franklin Templeton, VanEck, and Ant Financial, have all launched investment products or initiatives on the Sui network.
Furthermore, the foundation noted that these partnerships range from tokenized funds to exchange-traded notes (ETNs), which it claimed showcases the global institutional appetite for Sui’s “uniquely scalable infrastructure.”
It is also worth mentioning that Trump’s World Liberty Financial recently partnered with the Sui network. WLFI announced plans to create a Strategic SUI Reserve as part of the partnership.
These developments undoubtedly present a bullish outlook for the SUI price, which could rally soon enough. Crypto analyst Ted revealed that crypto is forming an inverse head-and-shoulders pattern. He added that the fundamentals remain strong, and institutions are also looking to file for spot ETFs.
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