Canary Staked SUI ETF NAV Drops 21% in Q2 as SUI Price Slides; Staking Income Partially Offsets
SUIS is trading near its 52-week low of $17.22 (1.5% above the low) on elevated volume (2.0× avg).
Summary
Canary Staked SUI ETF reported a 20.89% quarterly NAV decline as SUI fell 21%, with staking income only partially offsetting losses. The fund created 70,000 new shares but saw no redemptions.
Key Events · Earnings and Guidance · SUIS
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NAV Plunges 20.89% in Q2
Net asset value per share fell from $22.82 to $18.05, driven by a 21.01% drop in SUI price from $0.88 to $0.70.
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Staking Income Provides Modest Offset
Staking generated $91,814 in income for the quarter, partially offsetting the $5.15M net decrease from operations.
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70,000 New Shares Created
The Trust issued 70,000 shares during the quarter, raising $1.37M, with no redemptions, indicating continued investor interest despite the drawdown.
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Near-Complete Staking of Holdings
29.36M SUI tokens (99.99% of holdings) were staked as of June 30, 2026, representing $20.4M in fair value.
Analysis · SUIS · Crypto Assets
The Trust's net asset value per share fell 20.89% during the quarter, driven by a 21% decline in the underlying SUI token price. While staking income of $91,814 provided a small buffer, the $5.15M net decrease from operations underscores the fund's vulnerability to crypto market swings. The creation of 70,000 new shares brought in $1.37M, but no redemptions occurred, indicating investors are holding despite the drawdown. With nearly all SUI staked, the Trust continues to generate yield, but the concentration risk remains extreme.
At the time of this filing, SUIS was trading at $17.48 on NASDAQ in the Crypto Assets sector. The 52-week trading range was $17.22 to $34.31. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.