Canary Capital has filed for a SUI exchange-traded fund (ETF), moving towards its launch in the U.S. The Cboe has submitted paperwork to the SEC for a 19b-4 rule change that would allow the trading of the ETF. As Sui blockchain, developed by former Facebook engineers, continues to gain popularity in decentralized finance, it aims to position itself as a competitor to Ethereum and other prominent platforms. The file by Canary is a preliminary step towards introducing this financial product, which follows their history of filing for several altcoin ETFs. The SUI token has recently experienced some fluctuations, trading at approximately $1.98, and boasts a market capitalization of $6.4 billion, making it the 22nd largest cryptocurrency. The SEC is currently reviewing numerous applications for crypto ETFs, as interest in such investment vehicles grows, particularly following the approval of previous ETFs for other digital currencies.

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