SEC Issues an Update on an Altcoin ETF, Which Was Even Surprised to Be Filed

According to last minute information, the SEC has postponed its decision on the Canary Spot SUI ETF.

The proposed ETF aims to track the performance of SUI, a blockchain-based cryptocurrency that launched in May 2023. This layer-1 blockchain was developed by former Facebook engineers and uses a dual-layer consensus mechanism called Narwhal and Bullshark.

The ETF could be the first to track SUI and could also include staking a portion of its assets through trusted providers, with the ETF likely earning staking rewards. Headquartered in Nashville, Canary Capital filed its initial registration statement with the SEC in March and later filed a proposal.

*This is not investment advice.