There has been a new development that has caused a stir in the crypto market. Canary Capital has filed a formal application in the state of Delaware to launch an exchange-traded fund (ETF) for popular blockchain project Sui (SUI). This move could pave the way for a new investment vehicle that will provide institutional investors with easier access to SUI.
ETF Process for SUI Has Started
The process, which Canary Capital has initiated by establishing a trust structure in Delaware, indicates that the company intends to advance the formal application process with the US Securities and Exchange Commission (SEC). If the process goes smoothly, a SUI-based ETF could find its place in the market, like the Bitcoin and Ethereum ETFs.
This development comes on the heels of World Liberty Financial’s (WLFI) recent announcement of a strategic partnership with the Sui blockchain. WLFI took an important step for institutional investors by adding SUI to its strategic reserve fund called “Macro Strategy.”
Link to Trump-Backed Crypto Project
SUI's ETF journey has also been strengthened by its partnership with World Liberty Financial, founded by former US President Donald Trump. The fact that WLFI has accepted SUI as a strategic reserve asset shows that confidence in this blockchain project has increased.
ETF Application
With the news of this, there was also movement in the SUI price. The new ETF application and the WLFI partnership supported by Trump have increased the interest in SUI, and it is eagerly awaited how it will affect the market dynamics in the coming period.
Now, all eyes are on the SEC's possible evaluation process. If approval is received, a major wave of institutional investment could begin for SUI!
Author: Besim Şen
