Digital assets investment group, Canary Capital, is seeking permission from the US Securities and Exchange Commission to launch an exchanged traded fund (ETF) tied to Sui, a crypto currency.
If successful, the ETF will track the spot price of Sui and increase the number registrations the firm has with the SEC to six.
Canary Capital is a New York based group offering crypto equity funds, crypto exchange traded funds and single asset trusts. It recently partnered with World Liberty Financial, a crypto platform.
This latest registration comes amid a flurry of new filings in the US after president Donald Trump signalled a more accommodative regulatory environment for digital assets.
Traditional fund groups have also signalled their intentions for new launches. Invesco has filed a proposal for the Invesco Galaxy Bitcoin and Ethereum ETFs, while Fidelity Investments is seeking approval to allow staking in its Ethereum ETF.
We have also seen proposals for new ETFs filed by Hashdex and Calamos Investments, with the latter planning to blend Bitcoin and US Treasuries for a mix of upside and downside protection.
All eyes are now on Trump’s nominee for SEC chair, Paul Atkins, ahead of a reported Senate hearing on 27 March.
Atkins is seen widely as a pro-digital assets choice having previously supported innovation and market-driven policies. In his tenure as SEC commissioner between 2002 and 2008, he pushed for faster market growth by calling for a reduced regulatory burden in the financial sector.
