Canary Capital, an asset management company, has filed a new request with the U.S. Securities and Exchange Commission (SEC) to launch an Exchange-Traded Fund (ETF) called SUI. This move could have a positive impact on SUI’s price. According to Eric Balchunas, a Bloomberg analyst, Canary Capital has filed form S-1 for the SUI ETF with the SEC. This has increased optimism regarding SUI’s price, with some analysts predicting it to reach $7 and set a new record high. Canary Capital is the first company to request an ETF for SUI. Previously, the company had applied for XRP, HBAR, and SOL ETFs. Additionally, last week, Canary Capital also presented form S-1 for an ETF related to AXL token. Meanwhile, the SUI development team sees this initiative as a significant step towards the cryptocurrency entering public financial markets. They state that SUI has reached a trading volume of $70 billion on decentralized exchanges (DEX) and with 67 million active user accounts and institutional investor support, it is ready for a new phase. The SUI Foundation describes this request as a sign of increasing trust from traditional financial institutions in SUI. The foundation emphasizes that international collaborations, including offering tokenized funds and Exchange-Traded Notes (ETN), indicate broad interest from financial institutions in SUI’s scalable infrastructure. It is worth mentioning that World Liberty Financial (WLFI), owned by the Trump family, has recently announced its collaboration with the SUI network and revealed its plans to create strategic reserves of this cryptocurrency. You can track the live prices of all tokens and cryptocurrencies on the digital currency live price page.
