Canary Capital Updates SUI ETF With New Name, Ticker, and Nasdaq Listing

Canary Capital has announced significant updates to its proposed SUI exchange-traded fund (ETF), marking an important step toward the potential launch of the first U.S. spot ETF tracking the price of SUI. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the firm has submitted a second pre-effective amendment to its S-1 registration statement, outlining changes to the fund’s structure, branding, and listing venue.

One of the most notable changes is the rebranding of the product to the Canary Staked SUI ETF. The updated name reflects the fund’s intention to generate additional yield by participating in SUI staking, in addition to offering direct price exposure to the Sui blockchain’s native token. While the filing confirms staking activity, specific staking fees have not yet been disclosed.

Canary Capital also revealed that the ETF is now expected to list on the Nasdaq Stock Market rather than the Cboe BZX Exchange. If approved, the shares will trade under the ticker symbol “SUIS.” The issuer disclosed a management fee of 0.75%, though no fee waivers have been announced at this stage. These updates bring further clarity for investors monitoring the evolving U.S. crypto ETF landscape.

Mysten Labs, the core development team behind the Sui blockchain, will act as a seed capital investor. The company plans to purchase 200,000 shares in-kind using SUI tokens, priced at $25 per share, and will serve as the statutory underwriter. The trust has also partnered with major financial firms, including Jane Street Capital, Virtu Americas, Macquarie Capital, and Cantor Fitzgerald, to facilitate SUI trading activities.

The Canary Staked SUI ETF will track SUI price performance based on the ISUI-USD CCIXber Reference Rate index. U.S. Bancorp Fund Services has been appointed as administrator, transfer agent, and cash custodian, while BitGo Trust Company will act as the digital asset custodian. Shares will be created and redeemed in blocks of 10,000 through standard securities industry practices.

Following the announcement, SUI price maintained upward momentum, trading around $1.45 after a recent rebound. Trading volume surged, reflecting increased market interest, even as derivatives data indicated modest selling pressure. Overall, Canary Capital’s latest amendments signal growing momentum toward a regulated SUI ETF in the United States.