Canary Capital has filed with the SEC to launch an exchange-traded fund (ETF) that tracks SUI, a cryptocurrency recently added to the reserves of a Trump-affiliated project, World Liberty Fi. CEO Steven McClurg noted significant developer migration to the SUI ecosystem, citing its speed and efficiency as key factors for potential future adoption. The filing follows Canary Capital's earlier registration of a Delaware Trust entity, which is the initial step toward creating this investment vehicle. The firm has not disclosed the exchange for the potential SUI ETF. This initiative aligns with a broader trend where asset managers, encouraged by a more crypto-friendly U.S. regulatory environment under President Trump, are seeking approvals for various digital asset ETFs including Solana and XRP. As of now, SUI is trading at $2.36, reflecting a 5.1% increase in the last day, with a market valuation exceeding $7.4 billion. This movement indicates the continuous interest in crypto-backed ETFs after the SEC's past approvals of similar funds.

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