Digital assets investment firm Canary Capital Group said Monday that it filed for regulatory approval to launch an exchange-traded fund (ETF) tied to the spot price of Sui, a token associated with Sui Network.
If approved, this would mark the first-ever ETF linked to Sui, a blockchain-based asset with a market capitalization exceeding $7.4 billion, ranking it among the top 25 cryptocurrencies.
The filing adds to Canary Capital’s expanding list of crypto ETF applications, bringing its total submissions to six.
The move also shows a growing wave of ETF proposals targeting a broader range of digital assets, as crypto firms seek regulatory clarity and investment accessibility.
Trump’s Election Sparks Wave of Crypto ETF Filings
Since President Donald Trump’s election in November, ETF filings have surged, reflecting industry optimism that the Securities and Exchange Commission (SEC) may take a more favorable stance toward crypto-related financial products.
Trump’s administration has signaled a shift in crypto regulation, prompting expectations that the SEC’s new leadership could approve a wider range of digital asset ETFs. Already, regulators have dropped enforcement actions against major crypto firms and are considering rolling back stricter custody rules for investment advisors dealing in digital assets.
Crypto ETF Expansion Gains Momentum Beyond Bitcoin and Ether
The race to expand crypto ETF offerings is accelerating. Issuers have already submitted filings for ETFs on at least 10 cryptocurrencies beyond Bitcoin and Ether, which debuted as tradable ETFs in 2024. Among the most sought-after assets for ETF inclusion are Solana and XRP, with six pending applications each.
If Canary Capital’s Sui ETF gains approval, it could pave the way for further diversification in crypto investment products, offering institutional and retail investors a regulated, accessible way to gain exposure to emerging digital assets. The decision now rests with the SEC, whose stance on these applications will shape the next phase of cryptocurrency’s integration into mainstream finance.
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