Key Insights:
- ETF will hold physical SUI tokens and stake them to earn rewards via Sui’s PoS network.
- Filing confirms Nasdaq listing plans, $SUIS ticker, and post-effective SEC amendment under Rule 462(c).
- Custody managed by BigTru Trust Company, with NAV based on CoinDesk’s SUI USD CFIX Index.
Canary Capital has submitted an updated filing to the U.S. Securities and Exchange Commission (SEC) for its planned SUI exchange-traded fund. The amendment, dated December 19, 2025, includes key information such as the ETF’s fees, ticker symbol, staking arrangements, and plans to list on the Nasdaq Stock Market.
The ETF, which will trade under the ticker $SUIS, is designed to give investors access to the market price of SUI, a digital asset used on the Sui blockchain. The fund will hold actual SUI tokens, not futures or synthetic products. Its goal is to track the value of SUI while accounting for fund expenses.
Staking to Be Built into Fund Operations
Unlike most traditional ETFs, this product includes staking as part of its structure. The fund will stake its SUI holdings through the Sui Network’s proof-of-stake system, where participants earn rewards for helping validate transactions.
The filing notes that staking rewards may be added to the fund’s assets or handled at the sponsor’s discretion.
The filing states,
“Staking rewards may be reinvested or retained depending on operational needs,”
This approach aims to grow the value of the fund while maintaining direct exposure to the asset.
Daily NAV and Custody Details
The fund will calculate its Net Asset Value (NAV) each trading day. It will use the CoinDesk SUI USD CFIX Index to determine pricing. This index pulls price data from multiple platforms to establish an accurate value for SUI.
The ETF’s digital assets will be held by BigTru Trust Company, which is named as the custodian in the filing. UMB Bank, N.A. will handle the fund’s cash transactions and related banking functions.
Legal Structure and Offering Process
The ETF is not registered under the Investment Company Act of 1940 and will not use an investment adviser. Instead, it follows a model used by other crypto and commodity funds that hold physical assets. Shares of the fund will be created and redeemed in batches of 10,000, also known as “baskets,” through authorized participants.
The recent filing is marked as a post-effective amendment under Rule 462(c), not a new registration. This step updates the fund’s information and reflects its current structure and offering plans. The ETF was formerly named Canary SUI ETF, but has been renamed Canary Staked SUI ETF to align with its staking feature.
The offering is still awaiting SEC approval before trading can begin on Nasdaq.
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