SUI price holds steady as Canary’s SUI ETF application advances with SEC
The post SUI price holds steady as Canary’s SUI ETF application advances with SEC appeared on BitcoinEthereumNews.com. The US Securities and Exchange Commission (SEC) has moved forward with proceedings on the Canary SUI Spot exchange-traded fund (ETF) application, formally launching a review process that could eventually lead to the first US-listed ETF tied to SUI. Canary Funds initially filed its proposal to launch the ETF on March 17, 2025. Cboe BZX Exchange followed up with a proposed rule change to list and trade shares of the fund, officially called the Canary SUI ETF, under the Commodity-Based Trust Shares segment. The filing appeared in the Federal Register on April 25, starting the public comment period. The regulatory development has not impacted the token’s price, which is consolidating around $3.87, 0.4% down from its level 24 hours ago, at the time of this publication. Despite its intraday negative performance, SUI is still up 53% in the last 30 days per Coingecko data. SEC opens formal review process of Canary’s SUI ETF According to the SEC’s July 22 statement, the commission has instituted proceedings to determine if the Cboe exchange’s proposed rule change should be approved or denied. On June 4, 2025, the agency used its authority under Section 19(b)(2) of the Securities Exchange Act to extend the review period to assess the implications of allowing the ETF to trade. “Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved,” the SEC noted in the filing. The agency plans to conduct a more in-depth analysis of whether the proposed ETF complies with Section 6(b)(5) of the Exchange Act. This particular section requires that the rules of any national securities exchange “prevent fraudulent and manipulative acts and practices” and “protect investors and the public interest.” Review process starts 35-day public feedback and rebuttal proceedings The Commission has opened the floor…
The post SUI price holds steady as Canary’s SUI ETF application advances with SEC appeared on BitcoinEthereumNews.com.
The US Securities and Exchange Commission (SEC) has moved forward with proceedings on the Canary SUI Spot exchange-traded fund (ETF) application, formally launching a review process that could eventually lead to the first US-listed ETF tied to SUI. Canary Funds initially filed its proposal to launch the ETF on March 17, 2025. Cboe BZX Exchange followed up with a proposed rule change to list and trade shares of the fund, officially called the Canary SUI ETF, under the Commodity-Based Trust Shares segment. The filing appeared in the Federal Register on April 25, starting the public comment period. The regulatory development has not impacted the token’s price, which is consolidating around $3.87, 0.4% down from its level 24 hours ago, at the time of this publication. Despite its intraday negative performance, SUI is still up 53% in the last 30 days per Coingecko data. SEC opens formal review process of Canary’s SUI ETF According to the SEC’s July 22 statement, the commission has instituted proceedings to determine if the Cboe exchange’s proposed rule change should be approved or denied. On June 4, 2025, the agency used its authority under Section 19(b)(2) of the Securities Exchange Act to extend the review period to assess the implications of allowing the ETF to trade. “Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved,” the SEC noted in the filing. The agency plans to conduct a more in-depth analysis of whether the proposed ETF complies with Section 6(b)(5) of the Exchange Act. This particular section requires that the rules of any national securities exchange “prevent fraudulent and manipulative acts and practices” and “protect investors and the public interest.” Review process starts 35-day public feedback and rebuttal proceedings The Commission has opened the floor…
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