Canary Capital and Grayscale launch spot SUI ETF, supporting staking functionality

According to The Block, Canary Capital and Grayscale simultaneously launched a spot SUI ETF on Wednesday, providing investors with the opportunity to directly participate in the token's price and earn staking rewards.

The Canary Stake SUI ETF is listed on Nasdaq (ticker symbol: SUIS) and will track the spot price of SUI while providing investors with net staking returns through SUI's proof-of-stake mechanism. Grayscale converted its SUI trust into an ETF, listed on NYSE Arca (ticker symbol: GSUI).