A submission to mention a SUI-exhibition-related fund on CBOE BZX has landed with the SEC, which sets the stage for possible approval of a spot fund bound to the Layer-1 token.
Submitted on April 8, the proposal was submitted by CBOE BZX Exchange and strives for legal approval to list shares and trading of the Canary Sui ETF. The product would, if approved, be the first in the US to offer direct exposure to sui, the native token of the SUI network.
According to the submission, ETF Sui would hold and he can also use part of his participations to earn rewards. All sui of confidence would be stored in separate cold portfolios maintained by an external custodian. The net asset value of the fund would follow the Coindesk SUI USD index, updated daily at 4 p.m.
Trust itself was registered on 27 February as a legal confidence in Delaware and the registration of S-1 was submitted in March. The submission emphasizes that the trust will not be classified as an investment company or a raw material pool, so that it remains out of the reach of certain regulations.
SUI prize rose shortly after the news and the $ 2 marking surpassed, but the rally lost steam. During writing, Sui had fallen by 5.9% last day and it had fallen to $ 1.94.
This newest step follows a series of crypto ETF proposals, while emitting racing to market new products. Canary Capital has been active in this space, earlier submitting an application for ETFs bound to assets such as Solana, XRP and Litecoin.
More recently, Canary got newspapers with a request for a first hybrid ETF-in its kind that combines both cryptocurrency and NFTs. The proposed fund would follow the Pudgy Penguins -Ecosystem and keep the Pengu Governance token in addition to a collection of Pudgy Penguins NFTs.
The ETF -Push has won Momentum since President Trump returned to position in January. The SEC has seen a wave of Altcoin archives, including funds aimed at memecoins such as Dogecoin and official Trump.
