Latest news with #CanaryCapital
Crypto Insight
4 days ago
- Business
- Crypto Insight
Nasdaq files for 21Shares Sui ETF, kicking off SEC review
Nasdaq has filed for crypto asset manager 21Shares to list a spot Sui exchange-traded fund (ETF) in the US, initiating the Securities and Exchange Commission's review process. The stock market's May 23 19b-4 filing, which asks the SEC to list the 21Shares SUI ETF, follows 21Shares' April 30 submission of its S-1 registration statement to the SEC, which asked the regulator to approve trading of the proposed fund. Both regulatory filings are needed for the Sui tracking fund to go live, with the 19b-4 filing kicking off the SEC's review process. The agency must decide whether to accept, reject or delay the application within 45 days and it can delay its decision multiple times, for a maximum review period of 240 days. The SEC must decide on 21Shares' application by Jan. 18, 2026, at the latest. 21Shares proposed BitGo and Coinbase Custody as the custodians to hold SUI on behalf of the trust; however, the filing did not include details on a management fee or ticker. Canary Capital is the only other asset manager that has submitted 19b-4 and S-1 filings to list a spot Sui ETF, filing the forms on April 8. 21Shares said in its 19b-4 filing that the SUI token powers the Sui network and serves four main purposes: it can be staked to earn rewards, used to pay gas fees, function as a liquid asset for Sui applications and serve as a governance token. The Sui ecosystem is largely focused on decentralized applications and has been dubbed a potential Solana killer. SUI is the 13th-largest cryptocurrency, but its $12.3 billion market cap remains a fraction of Solana's $92 billion market cap, according to CoinGecko. 21Shares aims to add to SUI offerings 21Shares already lists a Sui exchange-traded product in Europe, on the Euronext Paris and Euronext Amsterdam stock exchanges. Those listings have contributed to SUI-based exchange-traded products having $317.2 million in assets under management (AUM), according to a May 26 report from CoinShares. Flows into SUI ETPs increased by $2.9 million between May 16 and May 24, and only trails Bitcoin, Ether, Solana and XRP in terms of net assets. Source:
Business Mayor
22-05-2025
- Business
- Business Mayor
Canary Capital pushes for SOL ETF staking – But the SEC ‘isn't ready' yet
Canary Capital amended its SOL ETF filing to include a staking provision. A Bloomberg ETF analyst stated that the regulator's approval was 'unlikely.' Asset manager Canary Capital has applied for a U.S. spot Solana [SOL] ETF (exchange-traded fund) with a staking feature, to increase investor returns if approved. According to the amended S-1 filing with the Securities and Exchange Commission (SEC), the asset manager will collaborate with Marinade Finance as a staking provider. The trust, Canary Marinade Solana ETF, will generate revenue through direct SOL exposure and staking rewards. 'The Trust's investment objective is to seek to provide exposure to the price of SOL held by the Trust… A secondary investment objective is for the Trust to earn additional SOL through the validation of transactions in the SOL network's proof-of-stake (PoS) process.' SEC to punt SOL ETF staking? Although the SEC's decision deadline for Canary Capital's previous SOL ETF application was in early June, the regulator may reject the staking request. When asked whether the agency would approve it in June, Bloomberg ETF analyst James Seyffart stated , 'Unlikely, particularly with staking. SEC isn't ready for staking in the ETF Grantor Trust wrapper … at least not yet.' Despite recent roundtable discussions between the SEC's Crypto Task Force and stakeholders on ETF staking, tokenization, and other issues, recent requests for spot ETH ETF by Bitwise and other issuers have been delayed. However, experts were hopeful that the SEC greenlight on altcoin ETFs may be likely from July or October. That said, SOL's mid-May cool-off was over, and it was ready to extend the Q2 recovery . Both spot CVD (Cumulative Volume Delta) and Open Interest (OI) rates declined from the 15 of May, reflecting a dip in spot market demand and speculative interest in derivative markets. Source: Coinalyze But spot CVD stabilized and slightly rebounded, suggesting spot market bidding was back. But was it enough to crack the $180 overhead hurdle? The $180 level has been a key resistance in 2024 and early 2025, and doubled as the 200-day SMA (Simple Moving Average). Source: SOL/USDT, TradingView Clearing the obstacle would allow bulls to target $220 — A potential +23% gain if hit. Besides, there was relatively low SOL profit-taking, and the market was not overheated per the Glassnode Profitability Map. This could boost the odds of cracking the $180 resistance.
Yahoo
07-05-2025
- Business
- Yahoo
SEC Further Delays Litecoin ETF, Requests Public Comments
The U.S. Securities and Exchange Commission (SEC) has further delayed making a decision on Canary Capital's proposal for a spot Litecoin (LTC) exchange-traded fund (ETF). This comes after the agency delayed several other applications for spot crypto ETFs last week, including XRP, Hedera, and Dogecoin but hadn't done so for the Canary Litecoin ETF, sparking hopes that the regulator might have different plans for this fund. But on Monday, the official deadline, the regulator announced the delay and asked for public comments regarding the proposal's compliance with regulatory requirements. "In particular, the Commission seeks comment on whether the proposal to list and trade Shares of the Trust, which would hold LTC, is designed to prevent fraudulent and manipulative acts and practices or raises any new or novel concerns not previously contemplated by the Commission," the agency wrote in a filing. Canary Capital, which was founded by former Valkyrie Funds co-founder Steven McClurg last year, had submitted initial paperwork for the fund in October. LTC, which stands at a $6.6 billion market cap, is the native cryptocurrency of Litecoin, an open-source blockchain project whose code is copied from Bitcoin's (BTC). ETF experts at Bloomberg Intelligence had predicted that the token would be the next to be wrapped up in an ETF amid chatter that Canary Capital had received comments back from the SEC regarding its application back in January. Issuers have yet to receive the first major decision on crypto ETFs made by recently appointed SEC chair Paul Atkins, who took the position in April. Atkins' replacement of former Chair Gary Gensler has been characterized as a 'huge variable' by Bloomberg senior ETF analyst Eric Balchunas.
Yahoo
06-05-2025
- Business
- Yahoo
Canary Capital's Application for New Litecoin ETF Delayed
Canary Capital's application to launch a Litecoin ETF has been delayed at the Securities and Exchange Commission, which extended the approval period as it aims to determine if the fund has sufficient fraud safeguards. The pause is the second such ruling on the filing from Canary, a Nashville-based asset manager aiming to launch its first ETFs, following a delay in March. Canary, which has filed to issue seven ETFs tracking so-called alt-coins, including TRX, XRP and HBAR, filed its original Litecoin application in January. The delay comes as dozens of applications for alt-coin ETFs hit the SEC, following President Donald Trump's promise of a more permissive approach to cryptocurrencies following the Biden administration's caution. More than 70 applications are being processed, according to Bloomberg Senior ETF Analyst Eric Balchunas, following last year's approval of nearly 20 exchange-traded funds that hold Bitcoin and Ethereum. Litecoin Ranking, Price Litecoin ranks as the No. 21 cryptocurrency by market capitalization, according to CoinMarketCap data. While it's swung wildly over the past year, the price has gained little. The filing had been seen as a potential bellwether for the SEC's permissiveness toward ETFs tracking smaller cryptocurrencies since the swearing in of Paul Atkins late last month as the agency's new chairman. The delay may be a result of Atkins's newness in the role and nothing more, ETF Store President Nate Geraci wrote in an X post. 'Still think vast majority of existing crypto ETF filings will be approved before year-end, if not sooner,' he wrote, saying that Atkins 'has to get feet wet.' Another potential test of the SEC's attitude toward riskier ETF assets will be whether or not VanEck's recent application for the BNB coin is approved. BNB is the token of the network managed by Binance, which last year pleaded guilty to fraud. It's CEO, Changpeng Zhao, spent four months in prison over the charges last year. Permalink | © Copyright 2025 All rights reserved
Yahoo
02-05-2025
- Business
- Yahoo
ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions
The Cosmos ecosystem is gaining significant institutional attention amid broader market volatility, with ATOM showing remarkable resilience after recovering from a drop to $4.23 on April 30th to stabilize above $4.38. The price of ATOM rose more than 4% in the last 24 hours, while the broader market gauge CoinDesk 20 Index climbed nearly the same amount. This recovery comes as Canary Capital files for the first spot Sei ETF built on Cosmos SDK, featuring staking capabilities that could set a precedent for similar products across the ecosystem. Meanwhile, Figure's Provenance blockchain, also built with Cosmos SDK, has emerged as the leader in tokenized private credit with $9.9 billion in active loans, validating BlackRock CEO Larry Fink's vision that "every asset can be tokenized." ATOM-USD has demonstrated remarkable resilience over the analyzed period, recovering from a significant drop to $4.23 on April 30th to stabilize above $4.38 by May 1st. The overall range of $0.31 (6.9%) reflects moderate volatility, with strong support established at $4.30-$4.32, according to CoinDesk Research's technical analysis data. Recent price action shows a developing uptrend with higher lows forming since April 30th, accompanied by increasing volume during recovery phases. The Fibonacci retracement from the April 29th high suggests the current price has reclaimed the 61.8% level, with resistance at $4.41-$4.42 representing the next significant hurdle before potential continuation toward previous highs. ATOM-USD has shown significant volatility in the last 100 minutes, experiencing a sharp decline from $4.41 to a low of $4.35 before staging a recovery to $4.38. The price action formed a V-shaped pattern, with strong buying emerging at the $4.35-$4.36 support zone. This was accompanied by notably higher trading volumes during both the selloff (peaking at 103,987 units at 14:00) and subsequent recovery. Recent price movement has established a short-term uptrend with higher lows since 13:57, with the current price consolidating near $4.38-$4.39, suggesting stabilization after the earlier volatility and potential for continued upward momentum if the $4.39 resistance level can be breached. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. References: Bitcoinist, "", published April 7, 2025. Bitcoinist, "", published April 7, 2025. Blockworks, "", published April 30, 2025. CryptoNews, "", published April 24, 2025. Sign in to access your portfolio
