Canary Capital promotes the first SUI Spot ETF in the US: renamed "Staked SUI ETF", discloses fees and code.

Canary Capital has officially made significant revisions to its SUI ETF application submitted to the U.S. Securities and Exchange Commission (SEC), taking a key step closer to launching the first Spot ETF tracking the price of SUI in the U.S. The latest documents disclose the fund name, management fee rate, stock code, and exchange information, raising high market attention on the approval prospects of the SUI ETF.

According to the latest second amendment document submitted before the effectiveness of the S-1, Canary Capital has adjusted the fund's name to “Staked SUI ETF” to highlight the core positioning of this ETF in seeking additional returns while gaining price exposure through participation in the SUI staking mechanism. The document shows that the ETF will stake SUI tokens through one or more staking service providers in the future, but the specific staking fees have not yet been disclosed.

In terms of structural arrangements, Canary Capital has switched its listing exchange from Cboe BZX to the Nasdaq Stock Market, indicating its plan to list on Nasdaq. The management fee for this ETF is set at 0.75%, with the stock ticker “SUIS”, and no fee reductions or waivers have been announced yet.

The core blockchain development organization Mysten Labs will participate in the ETF as a seed investor, subscribing to 200,000 shares of physically-backed SUI at a price of $25 per share, and will act as the legal underwriter. This arrangement is seen as an important signal to enhance the product's credibility and liquidity.

On the operational level, the Canary Staked SUI ETF has partnered with several institutions, including Jane Street Capital, Virtu Americas, Macquarie Capital, and Cantor Fitzgerald, as the main trading counterparties for SUI. The ETF will refer to the ISUI-USD CCIXber index to calculate the price performance of SUI and the fund's net asset value (NAV). U.S. Bancorp Fund Services acts as the manager and cash custodian, while BitGo Trust Company is responsible for digital asset custody.

In the market, the price of SUI has slightly increased to about $1.45 in the past 24 hours, with trading volume significantly expanding, indicating that investors' attention on topics such as “SUI ETF application progress” and “latest developments on US crypto ETFs” continues to rise. However, derivatives data shows that short-term sentiment remains cautious, with a slight decrease in SUI futures open interest.

Overall, Canary Capital's continued push for the SUI ETF has further strengthened the market's expectations for the “SUI Spot ETF” and “staking-based crypto ETF” to land in the United States, but the final outcome still depends on the SEC's regulatory attitude and approval process.