21Shares filed an S-1 registration statement with the SEC for an SEI ETF

21Shares has submitted an S-1 registration statement with the SEC for an SEI exchange-traded fund (ETF), in an effort to broaden its crypto product ￰0￱ the exchange, the fund, 21Shares SEI ETF, will offer investors exposure to SEI, the native token of the Sei ￰1￱ 21Shares SEI ETF, once live, will track the CF SEI-Dollar Reference Rate in USD. Moreover, the fund could potentially stake some of its SEI to generate rewards, but 21Shares has not confirmed if this will be ￰2￱ exchange commented on their filing on X, describing it as a “key milestone in our vision to expand exchange-traded access to the SEI Network.” Coinbase Custody Trust Company will hold custody of investors’ assets for the 21Shares ETF Sei Network is built as a Layer 1 blockchain and focuses on high-performance trading and exchange-based apps.

SEI, its native token, is used for fees, governance, and ￰3￱ to the SEC, an SEI ETF is structured as a passive product, intended only to mirror SEI’s price ￰4￱ will not employ leverage, derivatives, or speculative ￰5￱ August 28, 21Shares filed an S-1 registration statement with the SEC for its SEI ￰6￱ fund’s performance will be based on the CF SEI-Dollar Reference Rate, a benchmark managed by CF Benchmarks ￰7￱ aggregates SEI trades from multiple ￰8￱ measure values shares daily, with Coinbase Custody managing the fund’s SEI ￰9￱ SEI to generate extra yield remains an option for the Trust, but only if the Sponsor determines there are no legal or tax ￰10￱ Sponsor has yet to authorize staking, though liquid staking tokens may be considered later if ￰11￱ staking, however, would be outsourced to third-party ￰12￱ of the Sei ETF may be subscribed to or redeemed by Authorized Participants using cash or in-kind ￰13￱ cash is used, a third-party SEI Counterparty converts the funds into ￰14￱ deposits them with the Custodian, since the Trust does not handle SEI dealings directly with Authorized ￰15￱ in-kind subscriptions, Authorized Participants deposit SEI with the Trust, which then issues shares reflecting the net value of that ￰16￱ redemption, they receive either SEI or the corresponding cash amount based on the benchmark rate.

Nonetheless, the company will be looking for a timely SEC decision, though the regulator has a history of delays, including its recent postponement of the 21Shares Polkadot ￰17￱ Custody Trust Company will be the custodian for the ￰18￱ firm also provided custody services for 21Shares’ ONDO tokens when that ETF was ￰19￱ to the exchange’s filing, all assets will be in cold storage, while private keys will remain offline to prevent theft or ￰20￱ Capital filed its SEI ETF application in April With the ETF filing, 21Shares joins the growing SEI ETF competition, first sparked by Canary Capital’s S-1 and later by Cboe’s 19b-4 for a staked ￰21￱ April, Canary Capital applied for its SEI ETF, which, at the time, claimed it would provide both institutional and retail investors with exposure to staked SEI and potential staking ￰22￱ Canary Capital’s filing, Justin Barlow, the executive director of the Sei Development Foundation, even said ETFs were an on-ramp to broader acceptance, an instrument that bridged crypto with mainstream ￰23￱ other exchanges have submitted altcoin ETF applications for the US regulator to review.

VanEck, Bitwise, and Grayscale have filed with the SEC for Solana ETFs, as other asset managers explore offerings tied to XRP, Cardano, Dogecoin, HBAR, and ￰24￱ at Bloomberg put the approval odds for many of these ETFs at above 90%. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites