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Canary Launches The First Spot SUI ETF, with Staking (SUIS)

Brentwood, TN – (February 18, 2026) — Canary Capital Group LLC (“Canary Capital”), a digital asset investment management firm, today announced the launch of the Canary Staked SUI ETF (NASDAQ: SUIS). The Fund seeks to offer exposure to the spot price of SUI, the native token of the Layer-1 Sui Network. In addition, the Fund also seeks to earn additional SUI through participation in the Sui Network’s Proof-of-Stake (“PoS”) validation process, with net in-kind staking rewards reflected in the Fund’s net asset value.

“The Canary Staked SUI spot ETF (SUIS) brings exposure to SUI in a registered, exchanged-traded structure, while also enabling investors to benefit from net staking rewards generated through SUI’s proof-of-stake mechanism,” Steven McClurg, CEO at Canary Capital.

Canary’s investment thesis is to provide investors with access to cutting-edge blockchains, and the Sui Network, with healthy user adoption and a wide stack of tooling, is a well-suited addition to the product suite. Investors who believe in the potential of the Sui Network can get direct spot exposure to SUI, with staking, on Nasdaq via SUIS.

Targeted for fast, low-cost transactions, the Sui Network enables builders to create seamless applications for everyday users, from financial tools and digital marketplaces to gaming and digital advertising tools.

Created by the leading minds behind Meta’s Libra project, the Sui Network is known for its industry-leading performance, speed, and scalability. As of December 2025, the network supports a robust on-chain economy, with over $10 billion in 30-day decentralized exchange (DEX) trading volume (DeFiLlama.com), more than 1,000 monthly active developers (Artemis.xyz), and over $200 billion in monthly stablecoin transfer volume (Artemis.xyz).

“The Sui Network represents the evolution of blockchain utility – it’s highly scalable, supported by robust developer activity, and designed for real-world adoption,” said Steven McClurg, CEO at Canary Capital.

“Today marks an important milestone for both institutional and retail access to the Sui ecosystem,” said Adeniyi Abiodun, Co-Founder and CPO of Mysten Labs, the original contributor to Sui. “Sui was built to serve as the foundation for a new global economy, and this launch unlocks exposure for investors who believe in the technology powering that innovation.”

With the launch of the Canary Staked SUI ETF (SUIS), Canary Capital continues its mission to make digital asset investing simple, secure, and accessible. For more information on SUIS or Canary Capital click here.

Media Contacts

Trevor Davis

Gregory for Canary Capital

215-475-5931

[email protected]

Investor Relations

Amber Reedy

Canary Capital

[email protected]

About Canary Capital

Canary Capital is an investment management firm offering crypto-focused investment strategies and funds with a disciplined, technology-driven approach.

About Sui

Sui is a next-generation Layer-1 blockchain designed for fast, secure, and scalable digital asset ownership and applications. 

[email protected]

Disclosures and Risk

Investing Involves Significant Risk. The loss of principal is possible. Canary Staked SUI ETF (the “Fund”) may not be suitable for all investors. This communication does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial advisor/financial consultant before making any investment decisions.

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/SUIS/prospectus/. Read it carefully before investing.

The Fund is not a registered commodity pool or an investment company registered under the Investment Company Act of 1940. Shares of the Fund are not subject to the same regulatory requirements as traditional ETFs.

These investments are not suitable for all investors. Funds focusing on a single asset generally experience greater volatility. Please ask your financial advisor for more information about these risks. 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.

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Steven McClurg

Founder, CEO

Prior to founding Canary, Steven co-founded and served as CIO of Valkyrie Investments, whose public funds business was acquired by CoinShares in 2024. He was previously a Managing Director at Guggenheim Partners, overseeing portfolio strategy for fixed income and private equity. He also founded Theseus Capital (acquired by Galaxy Digital) and served as an MD at Galaxy. Steven holds a Master of Science and MBA from Pepperdine University, where he has served as an adjunct professor.

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Drew Hill

President, CLO

Drew is a seasoned digital asset attorney with deep expertise in securities law and fund compliance. Before Canary, he was GC and CCO at Valkyrie Investments and a key figure in Frost Brown Todd LLC’s Blockchain and M&A practice. He holds a BA in Finance & Spanish from the University of Oregon and a JD from Northwestern’s Pritzker School of Law.

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Jamal Pesaran

Co-Chief Investment Officer

Jamal Pesaran, CFA, is Co-Chief Investment Officer for Canary Capital LLC. With 30 years of investment experience, he has extensive portfolio management, trade execution as well as client-facing experience.

As Senior Portfolio Manager with Guggenheim Partners, Jamal helped build the Guggenheim Equities business and developed the income focused and risk-managed strategies with AUM of over $4 Billion. With Morgan Stanley, as Senior PM and CIO for an Ultra High Net worth team, he managed both Active equity, fixed income strategies as well as overall portfolio allocations across alternative assets. Prior to joining Canary Capital, as Head of Capital Markets for Clifton AI, he helped develop and market a Gen-AI platform for Investment Research. His experience includes extensive portfolio management experience as Senior Equity Options Portfolio Manager, across European, US and Asian markets with Goldman Sachs and UBS Securities. He worked in Equity Derivatives Hedge Fund Sales with Lehman Brothers in New York and HSBC in Hong Kong.

He holds an MBA from UCLA Anderson where he was awarded the Edward Carter Fellowship for academic performance in the top 2% of the class.

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Josh Olszewicz

VP, Head of Trading

With over a decade in digital asset markets, Josh leads Canary’s trading strategy and research. He previously headed crypto research at BraveNewCoin, was a portfolio manager at Techemy Capital, and served as Head of Research at Valkyrie Investments. Josh holds a BS in Human Biology and an MS in Biotechnology, and formerly taught lab sciences at the university level.

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Linnea Steffy

VP, Finance

Linnea leads finance at Canary Capital, overseeing FP&A, fund accounting, and mid-office operations across the firm’s hedge funds, private funds, and ETFs. A strategic finance expert with a decade of experience, she previously managed over $850M+ in operating budgets at Discovery Inc., where she partnered directly with executive and creative leadership on major US networks including HGTV, DIY, and GAC. Linnea began her career at KPMG and holds a BS in Business Administration from the University of Tennessee, Knoxville.

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Amber Reedy

Invetor Relations

Amber has over 15 years of experience driving growth through investor engagement, partnership strategy, and cross-sector business development. She’s known for building long-term relationships with institutional allocators and key stakeholders. Her strength lies in unlocking new revenue streams and delivering measurable outcomes across verticals.

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Redding Shelby

ETF Operations Lead

Redding leads ETF operations at Canary Capital, managing daily fund activities across trading, accounting, and finance responsibilities. He is a fund operations professional with over five years of experience in ETF administration and business management. His expertise spans transaction oversight, reconciliations, and compliance for ETFs with exposure to digital assets. At U.S. Bancorp, Redding was instrumental in launching '40 Act ETF products and supporting the administrative needs of a leading national service platform. He excels at identifying and implementing process improvements, and collaborating across business units to drive performance. He holds a Bachelor of Arts in Finance from Ouachita Baptist University.
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Alexis Busse

Executive Assistant

A graduate of the University of Wisconsin–Madison with a degree in Kinesiology and a certificate in Athletic Healthcare, Alexis serves as Executive Assistant and Office Manager. She brings management experience in hospitality and fitness to her role, supporting executive initiatives and overseeing daily operations to ensure organizational efficiency and seamless coordination across the company.

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Dylan Farnick

Associate Trader

With over a decade of experience in digital asset markets, Dylan brings a strategic approach to trading and research. He quickly honed his skills in navigating digital exchanges and futures trading, with research focused on post-mortem analysis. His expertise extends beyond trading to include UI/UX consulting, working on trading interfaces and documentation for various platforms including Kraken and Tradingview, as well as community management, where he provided direct product feedback as a liaison with the crypto trading community.

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Bronson Kaufusi

Business Development

A former NFL athlete turned business strategist, Bronson blends on-the-field experience with data-driven leadership. He brings expertise in consulting, real estate, blockchain, and data analytics, and has led initiatives supporting startups and athletic organizations alike. He serves as a board member at UVU, Head of Player Development at OG1 Athletes, and is active in nonprofit and entrepreneurial networks.

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