Canary Capital’s SUIS exchange-traded product has begun trading on Nasdaq, giving investors a U.S.-listed vehicle designed to track the spot price of SUI while also reflecting net staking rewards in its net asset value.
Nasdaq Trader’s 2026 information circulars list SUIS as an exchange-traded product slated to begin trading on February 18, 2026, while Canary Capital also announced the launch in a February 18 statement distributed via Business Wire.
Key Takeaways
- SUIS is designed to provide spot SUI exposure in an exchange-traded structure on The Nasdaq Stock Market.
- The product includes a staking component intended to pass through net staking rewards via NAV.
- A February 12, 2026 SEC prospectus describes SUIS as trading on Nasdaq under the ticker “SUIS.”
- The filing says NAV is based on a CoinDesk Indices Sui USD benchmark rate.
- The structure carries risks typical to single-asset crypto ETPs, plus staking-specific operational risks.
What SUIS is and how it aims to track SUI
According to a preliminary prospectus filed with the U.S. Securities and Exchange Commission on February 12, 2026, the Canary Staked SUI ETF is an exchange-traded product whose primary objective is to provide exposure to the price of SUI held by the trust, net of expenses and liabilities. The same document states the shares are expected to be listed on The Nasdaq Stock Market and trade under the ticker symbol “SUIS.”
Like other spot crypto ETP structures, the trust issues and redeems shares in large blocks and investors typically access the product through the secondary market via brokerage accounts. The filing also notes that secondary-market prices can trade at a premium or discount to NAV depending on supply and demand.
Staking mechanics and why they matter
A key differentiator highlighted in both the SEC filing and Canary’s launch announcement is staking. The February 12 prospectus describes a secondary investment objective: earning additional SUI through participation in a sponsor-administered staking program tied to the Sui network’s proof-of-stake validation process.
In its February 18 Business Wire release, Canary said net in-kind staking rewards are reflected in the fund’s net asset value. The same statement included remarks from Canary CEO Steven McClurg positioning the product as a way to obtain spot SUI exposure “with staking” in a registered, exchange-traded wrapper.
Benchmark, custody, and core service providers
The February 12 SEC prospectus states the trust will calculate NAV by reference to a CoinDesk Indices Sui USD CCIXber rate based on a time-weighted average of executed trade flow from major SUI trading platforms. It also identifies key service providers, including BitGo Trust Company as custodian for the trust’s SUI and U.S. Bancorp Fund Services as transfer agent and cash custodian.
The same filing notes the sponsor’s intention to stake SUI through one or more staking providers, while retaining discretion to keep a portion of SUI liquid for redemptions, expenses, or other operational needs.
Nasdaq listing details and timeline
Nasdaq Trader’s “Information Circulars 2026” page lists SUIS with a trade date of February 18, 2026 on the Nasdaq Global Market, aligning with Canary’s announcement that the product launched on that date. The February 12 SEC prospectus was filed shortly before that trading date and describes the shares as expected to list on Nasdaq under the SUIS ticker.