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 Network. The application follows a similar filing in April by Canary Capital, signaling growing institutional interest in the relatively new blockchain. The 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 exchanges. Coinbase Custody Trust Company has been named as the custodian of SEI holdings. The 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 infrastructure. Its token is used for gas fees and governance, making it a utility asset within the ecosystem. The SEC has so far only approved spot ETFs for Bitcoin and Ethereum, but filings for additional crypto assets are building momentum. In 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 year. That filing suggested investors could gain not only direct exposure to SEI but also passive income through staking rewards. Commenting 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 Ondo. The timing of the SEI filing could be favorable. According to journalist Eleanor Terrett, the SEC is weighing a new system that would simplify ETF approvals . Under the proposed structure, issuers would file a standard S-1 form and wait 75 days. If the SEC raised no formal objections within that period, the ETF would be automatically approved. If 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. The post 21Shares Files for First-Ever SEI ETF with the SEC appeared first on TheCoinrise.com .
