Two spot SUI exchange-traded funds hit the market on Wednesday, offering investors the ability to earn rewards by staking directly with the token’s value.

Canary Capital launched its Canary Stake SUI ETF on the Nasdaq exchange under the ticker symbol SUIS. The fund will track SUI’s spot price and allow investors to benefit from net staking rewards through SUI’s proof-of-stake mechanism, the investment firm said.

“Canary Stacked SUI Spot ETF (SUIS) brings exposure to SUI on a registered, exchange-traded basis.A traded structure, while enabling investors to benefit from the net staking rewards generated. through SUI’s proof-of-stake mechanism,” Canary Capital CEO Steven McClurg said in a statement.

Also gray scale debut His SUI fund, on Wednesday, is converting his trust into an ETF. The new fund will trade on the NYSE Arca under the ticker symbol GSUI.

Sui is basically a layer 1 blockchain developed by Mysten Labs. SUI is a blockchain native token and is used for payment of transaction fees, power smart contract execution, among other uses. The token currently ranks 31st in terms of market capitalization at around $3.7 billion. Block price page.

ETF issuer 21 shares brought The first ETF to track the value of SUI in leveraged form with its 21Shares 2x SUI ETF. Dozens of ETFs were launched this past year, including those tracking DOGE, LTC, XRP, and SOL in the wake of a friendlier regulatory environment under a new presidential administration.

“Today marks an important milestone for both institutional and retail access to the needle. ecosystem,” said Adeniyi Abiodun, co-founder and CPO of Meston Labs. Sui was built to serve as the foundation of a new global economy, and this launch opens up exposure to investors who believe in the technology powering this innovation.”

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