21Shares Files for First-Ever SEI ETF with the SEC

Crypto asset manager 21Shares has officially filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to the price of SEI the native token of the SEI ￰0￱ application follows a similar filing in April by Canary Capital signaling growing institutional interest in the relatively new ￰1￱ S-1 registration statement submitted on Thursday

outlines plans to use CF Benchmarks—a crypto price index provider—to track SEI’s price through data aggregated from multiple ￰2￱ Custody Trust Company has been named as the custodian of SEI ￰3￱ filing also leaves room for potential staking of SEI to generate additional returns although 21Shares noted it is still evaluating whether this would pose legal regulatory or tax concerns. 21Shares Expanding ETFs Launched in August 2023

SEI is a layer-1 blockchain designed to power decentralized exchanges and trading-focused ￰4￱ token is used for gas fees and governance making it a utility asset within the ￰5￱ SEC has so far only approved spot ETFs for Bitcoin and Ethereum but filings for additional crypto assets are building ￰6￱ a statement on X 21Shares described its SEI ETF filing as a “key milestone in expanding exchange-traded access to the SEI Network.” Canary Capital

a US-based digital asset firm submitted its own SEI ETF proposal earlier this ￰7￱ filing suggested investors could gain not only direct exposure to SEI but also passive income through staking ￰8￱ at the time Justin Barlow executive director of the Sei Development Foundation

said ETFs could act as a “gateway for broader adoption providing a vital bridge between crypto and mainstream markets.” SEC Considers Streamlined Approval Process Beyond SEI 21Shares already manages several products including the ARK 21Shares Bitcoin ETF

and has filed for ETFs tracking other tokens such as SUI XRP and ￰9￱ timing of the SEI filing could be ￰10￱ to journalist Eleanor Terrett the SEC is weighing a new system that would simplify ETF ￰11￱ the proposed structure

issuers would file a standard S-1 form and wait 75 ￰12￱ the SEC raised no formal objections within that period the ETF would be automatically ￰13￱ successful the move could speed up the entry of SEI and other crypto tokens into the regulated ETF market potentially broadening access for both institutional and retail investors.