Big news for SUI holders has just been announced: Canary Capital, a crypto asset management company, began trading the Canary Staked SUI ETF (ticker: SUIS) on Nasdaq today. Offering regulated spot exposure to SUI and, most strikingly, it incorporates on-chain staking yield. The fund combines a price tracking objective with a secondary objective of generating additional SUI by delegating staking of its underlying tokens.
According to Canary’s SEC filings and a press release, net staking rewards are reflected daily in the fund’s NAV and the vehicle uses the CoinDesk SUI USD CFIX index to value the assets.
How the Canary SUI ETF works
Canary structured SUIS as a Delaware statutory trust and completed S-1/A filings and post-effective amendments with the SEC to list on Nasdaq, according to its filings. The fund stakes substantially all of its SUI through designated custodians and staking providers; Canary does not run its own validation nodes. Among the external custodians, we find well-known companies such as BitGo.
The launch of SUIS comes amid a growing suite of SUI investment products. Grayscale’s GSUI, already listed on NYSE Arca, also integrates staking rewards; other players like Bitwise and 21Shares appear in presentations or product lines. Canary did not disclose initial assets under management or trading volume at the time of launch; Those figures will be seen in ongoing presentations and trading volumes.
Comparable SUI staking ETFs have suggested average annual returns of approximately 1.7% to 3.3% as a reference range, and the Sui Network was described as supporting substantial on-chain activity: around $10 billion in 30-day DEX trading volume and over $200 billion in monthly stablecoin transfer volume, with over 1,000 monthly transfers.
“With the launch of the Canary Staked SUI ETF SUIS, Canary Capital continues its mission to make investing in digital assets simple, secure and accessible,” the firm said in its press release.
This product is especially designed for institutional investors, amid a boom of this type of investors in the crypto market. As it offers spot price exposure to SUI and an integrated yield stream.
Looking ahead, the key metrics to watch are the fund’s initial AUM and daily trading volumes once released, realized staking performance after fees appearing in NAV reports, and any modifications to custody or staking arrangements disclosed in subsequent filings – data points that will determine how the product fits into treasury deployments and trading strategies.
SUI Price Reaction
Despite the importance of the news, the SUI token has not had a great reaction in terms of its price, remaining at the time of writing this article around $0.95 – 0.96. However, SUI is having a great week, with a rise of 8.5% in the last 7 days, which has helped mitigate even a little the abrupt monthly drop that it (and also the rest of the market) presents of almost 40% in the last 30 days.
