Canary Capital Group LLC was established as a sophisticated response to the growing demand for disciplined, risk-managed exposure to the digital asset ecosystem. Headquartered in Brentwood, Tennessee, the firm was founded by a leadership team with deep roots in both traditional asset management (TradFi) and the first generation of crypto-native exchange-traded products (ETPs).The firm’s strategic focus is translating complex blockchain networks into familiar, registered, and exchange-traded investment vehicles, with select products designed to generate additional yield through protocol-native rewards such as staking.
Canary Capital identified a unique opportunity in the Sui Network. Unlike traditional networks, Sui’s object-centric architecture and Move programming language allow for near-instant finality and high throughput, making it ideal for institutional finance.
Still, capturing Sui’s native staking rewards within a U.S. exchange-traded fund presented three primary hurdles:
To meet these requirements, Canary Capital selected Everstake as its foundational staking partner. Everstake distinguished itself as the validator certified across a "five-pillar" framework of institutional compliance:
Everstake deployed bare-metal infrastructure across geographically distributed data centers. This hardware-first approach ensures 99.98% uptime and helps mitigate the fund from vulnerabilities often associated with virtualized cloud environments.
The SUIS ETF launched on February 18, 2026, which aims to deliver a "dual return" model to investors: exposure to SUI's price appreciation and the compounding effect of the potential network reward..
“After a comprehensive due diligence process, Everstake emerged as a strong partner aligned with our requirements. Their non-custodial, bare-metal infrastructure enabled us to capture the high performance of the Sui network while ensuring assets remained secure. The launch of SUIS represents a milestone in translating blockchain utility into a Wall Street-ready asset class." — Steven McClurg, CEO at Canary Capital
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Fund Objective
The Fund’s investment objective is to seek to provide exposure to the price of Sui (“SUI”) held by the Fund, less the expenses of the Fund’s operations and other liabilities. A secondary investment objective is for the Fund to earn additional SUI through the validation of transactions in the SUI network’s (the “SUI Network”) proof-of-stake (“PoS”) process. In seeking to achieve its investment objectives, the Fund will hold SUI.
SUIS is not a commodity pool or an investment company registered under the Investment Company Act of 1940 (the “1940 Act”), and therefore is not subject to the same regulatory requirements as mutual funds or traditional ETFs registered under the 1940 Act.
The Fund’s investment objectives, risks, charges and expenses should be considered before investing. The prospectus contains this and other important information, and it may be obtained at https://canaryetfs.com/SUI/prospectus/. Read it carefully before investing.
Investing Involves Significant Risk. The loss of principal is possible. Canary Staked SUI ETF (the "Fund") may not be suitable for all investors. Digital assets, such as SUI, are a relatively new asset class, and the market for digital assets is subject to rapid changes and uncertainty. Digital assets are largely unregulated and digital asset investments may be more susceptible to fraud and manipulation than more regulated investments.
SUI is subject to unique and substantial risks, including significant price volatility and lack of liquidity, and theft. The value of an investment in the Fund could decline significantly and without warning, including to zero. SUI is subject to rapid price swings, including as a result of actions and statements by influencers and the media, changes in the supply of and demand for digital assets, and other factors. There is no assurance that SUI will maintain its value over the long-term.
Fund Risks
Failure by the Fund's Custodians to exercise due care in the safekeeping of the Fund's SUI could result in a loss to the Fund. Investors cannot be assured that the Custodians will maintain adequate insurance with respect to the SUI held by the Custodians on behalf of the Fund to cover such losses.
The Fund is new with a limited operating history. The Fund is not actively managed and will not take any actions to take advantage, or mitigate the impacts, of volatility in the price of SUI. An investment in the Fund is not a direct investment in SUI. Investors will not have any rights that SUI holders have and will not have the right to receive any redemption proceeds in SUI. Shares of the Fund are generally bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Only Authorized Participants may trade directly with the Fund and only large blocks of Shares called "creation units." Your brokerage commissions will reduce returns.
The amount of SUI represented by shares of the Fund will decrease over the life of the Fund due to sales of SUI necessary to pay the sponsor's fee and fund expenses. Without increases in the price of SUI sufficient to compensate for that decrease, the price of the shares will also decline, and investors will lose money on their investment. The liquidation of the Fund may occur at a time when the disposition of the Fund's SUI will result in losses to investors.
Staking rewards generated by the Fund’s staking program will be subject to fees shared among the Staking Provider and its network of validators. The amounts owed or paid to the Staking Provider and its network of validators are collectively referred to as the “Staking Fees.” The Staking Fees will reduce the amount of SUI rewards that are generated from the Fund’s staking program that are received by the Fund.
*Staking yield is not issued directly to investors. Accrued staking rewards are included in the fund’s daily NAV calculation."
Staking activity comes with a risk of loss of SUI. None of the Fund’s assets, including any staked assets, are subject to the protections enjoyed by depositors with Federal Deposit Insurance Corporation (“FDIC”) or SIPC member institutions. The staked assets may also be subject to “slashing” penalties. Slashings occur when a validator attests to two different histories of the chain and penalties occur when a validator is offline for a prolonged period of time. The Fund itself will not engage in staking activities, including the operation of a validator node. Instead, the staking program will be operated through the Fund’s service providers, including the Custodian and Luganodes (the Fund's initial "Staking Provider"). While the Sponsor does not expect the activities of the Staking Provider to result in slashing penalties, there can be no guarantee that slashing penalties will not occur. Furthermore, the Custodian’s liability to the Fund for the actions of the Staking Provider is limited, and the Custodian may lack the assets or insurance in order to support the recovery of any losses incurred. Accordingly, there can be no guarantee that the Fund would recover any of its staked assets, or the value thereof, if it is subject to slashing or penalties.
The Fund’s Marketing Agent is Paralel Distributors LLC which is not affiliated with Canary Capital Group LLC or its affiliates, Bitgo Trust Company LLC, and Everstake.
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