Canary Capital filed significant amendments to its SUI ETF application. The firm submitted a second pre-effective amendment with regulators. These changes reshape the fund's entire structure.
The fund now focuses on staking rewards generation. The new name reflects this strategy shift completely. It will operate as the Staked SUI ETF going forward.
According to the SEC filing, exchange plans changed completely. Canary Capital moved from Cboe BZX to Nasdaq Stock Market. The ticker symbol SUIS will identify fund shares.
Strategic Partnerships Drive Fund Structure
The fund includes top-tier institutional partners across operations. Jane Street Capital joined as a primary trading counterparty. Virtu Americas signed on for market-making services.
Macquarie Capital and Cantor Fitzgerald complete the trading lineup. These firms handle all SUI token purchases and sales. The Canary Capital SUI ETF portfolio tracks the ISUI-USD CCIXber Reference Rate.
U.S. Bancorp Fund Services manages administrative functions for operations. BitGo Trust Company provides custody services for digital assets. Paralel Distributors LLC handles marketing operations.
Management fees stand at 0.75% annually. No fee waivers have been announced yet. Mysten Labs will serve as seed investor.
The blockchain developer commits $5 million in capital. They will purchase 200,000 shares at $25 each. Mysten Labs also acts as statutory underwriter.
Market Response Shows Growing Interest
The fund operates through DTC's book-entry system entirely. Share transfers follow standard securities industry practices. Creation and redemption happen in 10,000-share blocks.
According to ">Community_Sui on X, the filing represents major progress. The account emphasized growing institutional interest in SUI exposure. This follows similar applications from competing asset managers.
SUI price gained over 1% following the announcement. Trading volume jumped 73% in 24 hours. Market participants responded positively to institutional developments.
Derivatives activity showed mixed signals for the fund. Futures open interest declined slightly in recent sessions. Short-term traders remain cautious despite spot enthusiasm.
Canary Capital joins other crypto fund applications this year. The firm previously filed for Solana and XRP products. This expands layer-1 blockchain exposure for investors.
