Canary Capital, a crypto asset investment firm, has requested that the Chicago Board Options Exchange (CBOE) launch an exchange-traded fund (ETF) to expose investors to the SUI coin. In response, the CBOE has filed a proposal with the SEC to list and trade shares of the Canary SUI ETF. If approved, it would be the first U.S.-based ETF tied to the spot price of SUI.
An ETF is a popular investment instrument that allows people to invest in assets like stocks, gold, or, in this case, crypto via traditional brokerage accounts. With this filing, Canary aims to make investing in SUI more accessible and secure for the general public, especially those who may not be comfortable buying or storing crypto directly.
CBOE Plans to List SUI ETF
The proposed Canary SUI ETF would be set up as a Delaware-based trust and operate like other spot crypto ETFs already on the market. It would hold actual SUI tokens and track their price using data from major trading platforms.
According to the filing, the fund would also stake some of its SUI holdings through trusted third parties. Staking is a process that helps run the blockchain and, in return, earns rewards, which would be added to the fund’s value.
Meanwhile, Sui blockchain, launched less than two years ago by Mysten Labs, has quickly gained traction. The Sui network, known for its speed and ability to process many transactions simultaneously, has attracted developers and investors. According to CoinMarketCap, the asset currently ranks among the top 20 cryptocurrencies by market value.
Canary Awaits SEC Approval
Notably, Canary had earlier applied to the U.S. Securities and Exchange Commission (SEC) for approval of the SUI ETF. The application is one of six filed by Canary Capital, which has pursued regulated crypto products for other digital assets such as Solana and XRP.
The firm’s founder, Steven McClurg, had expressed optimism that the new leadership would be more open to crypto investment tools. Since President Donald Trump’s election, enforcement against crypto companies has eased, and regulators are reconsidering previously proposed restrictions. McClurg believes that many crypto ETFs, including the SUI product, could win approval before the end of the year.
