Canary Capital is pushing forward with another crypto ETF filing, this time seeking approval for a fund tracking the native token of the Sui blockchain. This marks the investment firm’s sixth attempt at securing a crypto exchange-traded fund (ETF) listing in the US, signaling growing confidence in a shifting regulatory landscape.
On March 17, Canary filed a Form S-1 with the US Securities and Exchange Commission (SEC) for the Canary SUI ETF, aiming to provide investors with direct exposure to Sui (SUI), currently ranked as the 23rd largest cryptocurrencyby market capitalization. The filing, however, did not disclose which exchange the ETF would be listed on or its proposed ticker symbol.
🚨 BREAKING: @CanaryFunds files for the first-ever SUI ETF!
— Sui (@SuiNetwork) March 17, 2025
This is a major step toward bringing Sui to public markets — if approved, the ETF will give investors direct exposure to SUI, further fueling institutional adoption.
With $70B+ DEX volume, 67M+ accounts and… pic.twitter.com/3KIrKVtXtT
Sui is a Layer-1 blockchain focused on scalability and low fees, leveraging Move programming language to optimize smart contracts. The network’s native token, SUI, is used for transaction fees, staking, and governance. As of today, SUI is trading at $2.31, reflecting a 7.3% weekly increase, though still 56.5% below its all-time high of $5.35 recorded on January 5.

Canary Capital had registered a trust in Delaware on March 6 for the fund, a key step before formally filing for an ETF. However, for the ETF to move forward, Canary must also file a Form 19b-4, which would allow the SEC to consider the proposal for listing approval.
This filing follows a broader trend of increased crypto ETF applications in 2025, fueled by the pro-crypto stance of the Trump administration. Since former SEC chair Gary Gensler stepped down, the regulatory environment has shifted, with new acting chair Mark Uyeda taking a less restrictive approach to digital assets.
Trump’s administration has signaled a willingness to ease crypto regulations, prompting firms like Canary to seize the opportunity by filing for various altcoin ETFs. In recent months, the firm has submitted ETF filings for Solana (SOL), Litecoin (LTC), XRP, Hedera (HBAR), and Axelar (AXL), reflecting a broader push to bring more digital assets into traditional investment products.
Sui’s Strategic Partnership and Market Growth
Canary’s filing also coincides with Sui’s recent partnership with World Liberty Financial, a Trump-backed crypto platform. The collaboration has positioned Sui as part of World Liberty’s “Macro Strategy” token reserve, potentially increasing its institutional adoption.
🚨 BREAKING — we’re extremely excited to announce a partnership with @worldlibertyfi, a Donald J. Trump-inspired pioneering DeFi protocol, rooted in a shared vision for a more open and transparent financial world.
— Sui (@SuiNetwork) March 6, 2025
As part of this collaboration:
💥 WLFI will include SUI in their… pic.twitter.com/7J1gB0EbS4
As regulatory uncertainty fades and crypto ETFs gain traction, Canary’s Sui ETF could mark another milestone in bringing altcoins into mainstream finance. However, the SEC has yet to approve spot ETFs for assets beyond Bitcoin and Ethereum, making this an uphill battle.
With crypto ETFs becoming a growing priority for investors and regulators, the fate of the Canary SUI ETF will be a key development to watch in the coming months.

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