Canary Capital has filed for a cryptocurrency exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), marking its sixth proposal. The ETF is designed to track the spot price of the Sui token, a native asset of the Sui blockchain, which has a market cap of approximately $7.36 billion. In its Form S-1 submission on March 17, Canary did not specify which exchange the ETF would trade on or its ticker symbol. Prior to the ETF filing, Canary established a trust in Delaware on March 6. To proceed, it must file a Form 19b-4 with the SEC. This filing follows earlier proposals from Canary for ETFs based on other cryptocurrencies such as Solana, Litecoin, XRP, Hedera, and Axelar. Sui is currently trading at $2.31, having experienced a significant drop since reaching its all-time high in January. The filing has sparked optimism in the market amid potential regulatory shifts following the appointment of Paul Atkins as SEC chair, which could influence the approval of these cryptocurrency ETFs.

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