Investment company Canary Capital has filed its sixth application with the US Securities and Exchange Commission (SEC) to launch a spot crypto exchange-traded fund (ETF).
The new product will directly contain the native token of the first-layer (L1) Sui blockchain, which is used for staking and payment of transaction fees. SUI ranks 23rd in the overall cryptocurrency ranking with a capitalization of $7.2 billion and trades at $2.25.
Documents for the SEC
What else is known? The new fund is designed to track the spot price of SUI. Like other spot crypto ETFs, it will allow investors to receive income from the growth of the asset price by purchasing shares of the fund without storing it directly.
In the application to the SEC, Canary Capital did not specify information about which exchange it plans to list the product on or what ticker it will be assigned when listed.
The SEC has delayed decisions on several applications as it awaits Senate confirmation of Trump’s nominee to be chairman, Paul Atkins. Atkins’ Senate confirmation hearing is scheduled for March 27, but it was delayed over financial disclosure issues.