Asset Manager Canary Capital is seeking SEC approval to launch SUI Exchange Trade's fund with points

Share this article!

Canary Capital Asset Management plans to launch its first spot cryptocurrency exchange-traded fund (ETF) that tracks the price of SUI (Sui).

The company has filed an application with the U.S. Securities and Exchange Commission (SEC) seeking approval to issue its SUI ETF. This will be the first ETF to track the performance of the well-known Layer-1 network.

The ETF plans to leverage some of its positions through trusted staking providers.

"The issuer may utilize or motivate all or part of the SUI of the Trust to participate in Staking through one or more trusted Staking providers. Given any Staking activities that the Trust may participate in, the Trust will receive a full or part of the Staking reward generated through the Staking activities, which will be counted into its revenue."

Canary Capital, known for its focus on cryptocurrencies, is currently setting up a trust in Delaware to manage its SUI products. The move is in response to the SEC's recent approval of spot Bitcoin and Ethereum ETFs.

The Chicago Options Exchange (CBOE) said there are enough measures to prevent fraud and manipulation, with the reasons similar to earlier approvals.

Canary Capital is actively seeking to expand its product line with a range of crypto ETFs. The company is exploring the possibility of launching ETFs tracking other major cryptocurrencies such as Litecoin, Ripple, Solana and Hedera.

Canary's Litecoin ETF has appeared with Tresker LTCC on Deposit Trusts and Settlement Corporation (DTCC), indicating that its issuance preparations are underway.

The above is the detailed content of Asset Manager Canary Capital is seeking SEC approval to launch SUI Exchange Trade's fund with points. For more information, please follow other related articles on the PHP Chinese website!