Quick Takeaways
- 21Shares has filed for a new SEI ETF to track the SEI token’s price.
- Coinbase Custody is handling storage, with potential staking rewards on the table.
- SEC may soon simplify approvals giving crypto ETFs a faster path to market.
SEI ETF from 21Shares Signals Growing Interest
The race is officially on. Crypto asset manager 21Shares has filed paperwork with the SEC to launch a new SEI ETF, stepping into a competitive arena already occupied by Canary Capital, which submitted a similar application earlier this year.
This new ETF would track the price of SEI, the native token of the Sei network a fast, layer-1 blockchain built specifically for trading and decentralized exchanges.
To make sure the pricing is reliable, 21Shares plans to use CF Benchmarks, which pulls price data from multiple top crypto exchanges.
They’re also working with Coinbase Custody to securely hold the tokens. This is where things get interesting: 21Shares ETF is learning that SEI staking can produce extra gains for investors.
That said, they’re still reviewing whether this would bring any legal or tax complications.
Why the SEI ETF Could Be a Big Deal for Crypto Investors
If you’re not already familiar, the Sei network launched in August 2023 and has quickly positioned itself as a go to infrastructure layer for decentralized marketplaces. Think of it like the engine behind smoother, faster crypto trades.
Its tokens, SEIs, are used to pay gas fee, vote on government decisions and possibly earn prizes through staking. Right now, SEI is trading at around $0.30 up over 4% in the last 24 hours and ranks #74 by market cap, according to CoinGecko.
Now here’s the big picture: So far, only Bitcoin and Ethereum have approved spot ETFs in the U.S. If the SEI ETF gets the green light, it could open the door for newer, faster blockchains like Sei to enter traditional finance markets. That means easier access for both casual and institutional investors.
Canary Capital’s SEI ETF Filing Is Also in the Mix
It’s interesting to note that other companies are also considering the SEI ETF possibilities. Canary Capital filed their own application back in April, and they’re going a step further by offering exposure to staked SEI.
That means investors could earn passive income through staking rewards, not just gains from token price movement.
And 21Shares? They’re clearly paying attention. By mentioning staking in their filing too, they’re signaling that this isn’t just about holding tokens it’s about helping investors make their tokens work for them.
More Crypto ETFs Are Coming and Faster Than You Think
There’s more happening here than just a single ETF. The crypto ETF space is growing fast. The ARK 21Shares Bitcoin ETF is already available from 21Shares, and they have applied for others including SUI, XRP, and Ondo.
Other big names like Grayscale, VanEck, and Bitwise are pushing to get ETFs for Solana, Cardano, and even Dogecoinapproved. The momentum is real.
And here’s something that could speed everything up: According to journalist Eleanor Terrett, the SEC is considering a new, streamlined process for ETF approvals.
If implemented, issuers would file the usual S-1 form and just wait 75 days. If no one objects, boom, it’s approved. This could mean we’ll start seeing more ETFs hit the market quickly, including the SEI ETF.
