- Canary Capital filed for the first SUI ETF in Delaware.
- SUI price is witnessing considerable price surge, ready to break out of its resistance levels.
Crypto-based investment products filings are increasing for the past few months. With the successful launch of multiple Bitcoin ETFs, altcoins investment product filings are increasing in number by the day. Ether, Solana, XRP, Cardano, and Dogecoin have already been introduced in recent filings. As per the latest news, SUI has also entered the ETF filings race.
Canary Capital filed for a trust entity in Delaware for a SUI ETF. The present filing is for a Domestic Statutory Trust, which indicates there will be a potential SUI ETF filing submission to the SEC for regulatory approval.
Yesterday, SUI announced its strategic partnership with the WLFI on its official X post. This not only results in WLFI adding SUI to its reserve but also a collaboration between two projects on product development.
Amidst the increasing number of altcoin ETF filings to the SEC, Canary Capital took this opportunity to proceed with SUI ETF. The asset manager stays ahead being the first platform to file an SUI-based ETF. Even though Canary Capital’s SUI ETF filing and SUI partnership with World Liberty Financial are two separate actions, one might lead to another.
Can SUI ETF Push its Price to New Heights?
SUI price has been surging since its partnership announcement with the WLFI. It is trading at $2.82 with a 5.45% rise in the last 24 hours. The token price went close to the $3 mark today and came back. Furthermore, the token faces key resistance levels at $3.48 and $3.78.
If SUI price surge continues with the recent Canary Capital SUI ETF filing news, it could break out its resistance levels. The 144% surge in its trading volume reflects increased investor sentiment. Meanwhile, its market cap increased by 5.67%, standing at $8.94 billion.
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