Canary Capital Group, a digital assets investment firm, has submitted a proposal to regulators to launch an exchange-traded fund (ETF) connected to the spot price of Sui, a cryptocurrency linked to Sui Network, a blockchain service provider. This marks Canary's sixth cryptocurrency filing with the Securities and Exchange Commission (SEC) following the election of President Donald Trump, who has promised regulatory changes in the digital assets space.

Steven McClurg, Canary's founder, expressed optimism about the increased momentum and positive sentiment within the cryptocurrency market since the election. There has been anticipation for the approval of pending filings by the end of 2025. Recent developments include dropped enforcement actions and reconsideration of stringent custody requirements for investment advisors involved in cryptocurrencies.

Approval of new ETFs by the SEC is likely to await confirmation of Paul Atkins, Trump's SEC chair nominee. Canary's filing introduces the first ETF proposal linked to Sui, a coin with a market capitalization exceeding $7.4 billion. Various issuers have applied for ETFs covering at least ten cryptocurrencies beyond bitcoin and ether, with Solana and XRP being among the most sought after, each having six ETF applications awaiting SEC review.