Digital belongings funding agency Canary Capital Group mentioned Monday that it filed for regulatory approval to launch an exchange-traded fund (ETF) tied to the spot price of Sui, a token related to Sui Community.
If permitted, this is able to mark the first-ever ETF linked to Sui, a blockchain-based asset with a market capitalization exceeding $7.4 billion, rating it among the many high 25 cryptocurrencies.
The submitting provides to Canary Capital’s increasing checklist of crypto ETF purposes, bringing its whole submissions to 6.
The transfer additionally exhibits a rising wave of ETF proposals concentrating on a broader vary of digital belongings, as crypto companies search regulatory readability and funding accessibility.
Trump’s Election Sparks Wave of Crypto ETF Filings
Since President Donald Trump’s election in November, ETF filings have surged, reflecting industry optimism that the Securities and Trade Fee (SEC) could take a extra favorable stance towards crypto-related monetary merchandise.
Trump’s administration has signaled a shift in crypto regulation, prompting expectations that the SEC’s new management might approve a wider vary of digital asset ETFs. Already, regulators have dropped enforcement actions towards main crypto companies and are contemplating rolling again stricter custody guidelines for funding advisors dealing in digital belongings.
Crypto ETF Growth Positive factors Momentum Past Bitcoin and Ether
The race to increase crypto ETF choices is accelerating. Issuers have already submitted filings for ETFs on at the very least 10 cryptocurrencies past Bitcoin and Ether, which debuted as tradable ETFs in 2024. Among the many most sought-after belongings for ETF inclusion are Solana and XRP, with six pending purposes every.
If Canary Capital’s Sui ETF beneficial properties approval, it might pave the best way for additional diversification in crypto funding merchandise, providing institutional and retail traders a regulated, accessible option to acquire publicity to rising digital belongings. The choice now rests with the SEC, whose stance on these purposes will form the subsequent section of cryptocurrency’s integration into mainstream finance.
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