In the shadowy corridors of financial ambition, where dreams of digital gold dance like mirages, Canary Capital emerged, yet again, to tease the old and jaded souls of Wall Street. They filed their sixth hopeful sigh, this time fluttering a proposal for a crypto exchange-traded fund, or ETF for those who bask in acronyms. Yes, dear reader, this one aims to track the elusive spot price of the perplexing token named Sui. Talk about characters!
On a fateful March 17, amidst the rustle of papers and clattering of keyboards, the firm humbly approached the Securities and Exchange Commission with a Form S-1, akin to a child handing in their homework, filled with queries on what exchange would cradle this new wonder or even what its ticker symbol could be—such mysteries! 🙃
This ETF promises to be a vault, holding Sui (SUI) tightly, the native coin of a blockchain meant for fees and staking, ranking 23rd among its crypto peers like a high school student desperate for attention, carrying a market value of a hefty $7.36 billion, so said the oracle called CoinGecko.
As the wizards of trading predicted, Sui found itself trading up 1.3% over the past day, checking in at a modest $2.31. A week’s journey brought a 7.3% upturn—quite the optimistic trip! Yet, echoing in the shadows are the echoes of its past, a staggering 56.5% tumble from its towering January peak of $5.35. One wonders if it tripped over its own excitement! 😅
Canary, in their fervor, registered a trust in the great state of Delaware on March 6, a step that seems as necessary as counting one’s chickens before they hatch. However, they still needed to file that elusive Form 19b-4 before the SEC could even think of letting these dreams take flight.
This proud moment marked the sixth attempt by Canary, whose previous quests included not just Sui but also the likes of Solana (SOL), Litecoin (LTC), and a colorful cast that included XRP and Hedera, all vying for a place at the cosmic table of crypto ETFs.
The winds of change blew favorably as Sui announced on March 6 their partnership with none other than World Liberty Financial, a crypto platform rumored to carry the weighty endorsement of none other than the great Donald Trump. A partnership that, in the true spirit of cooperation, included placing Sui in their “Macro Strategy” token reserve—a name dripping with promise, and perhaps a hint of sarcasm. 🤔
Trump, with his knack for the dramatic, vowed to loosen the chains of regulatory enforcement against cryptocurrencies, igniting a wave of ETF applications as hopefuls rushed to capitalize on his administration’s supposed goodwill.
However, let’s not forget the SEC, that ever-so-patient guardian. They have been procrastinating like students nearing finals, delaying decisions on multiple crypto ETF applications. But worry not; Commissioner Hester Peirce has assured us that they’re just waiting for the Senate to confirm Trump’s pick for chair, Paul Atkins. Another saga to watch unfold!
A Senate confirmation hearing has been scheduled for March 27, delayed perhaps due to those pesky financial disclosures. One can only imagine the twists and turns ahead in this great tale of ambition, hope, and uncertainty!
Read More
- Invincible Season 4: What We Know About Release Date and Plot Speculation!
- MNT PREDICTION. MNT cryptocurrency
- KAS PREDICTION. KAS cryptocurrency
- EUR JPY PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- ONT PREDICTION. ONT cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- USD MXN PREDICTION
- IMX PREDICTION. IMX cryptocurrency
2025-03-18 09:20