Quick Breakdown
- 21Shares has filed with the SEC to launch a SEI ETF, with Coinbase Custody as the asset custodian.
- Canary Capital made a similar filing in April, seeking to offer staked SEI exposure with passive income potential.
- Broader ETF momentum builds, with the SEC considering simplified approval rules and multiple issuers targeting tokens beyond Bitcoin and Ethereum.
Swiss crypto asset manager 21Shares has submitted an application to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) tied to the price of SEI, the native token of the Sei blockchain.
21Shares Outlines SEI ETF Structure
According to the S-1 filing submitted on Thursday, the proposed fund would track SEI prices through CF Benchmarks, a crypto index provider that aggregates data from multiple trading venues. Coinbase Custody Trust Company has been named as custodian for the digital assets.
We’re excited to announce that we’ve filed with the SEC for a SEI ETF in the U.S. – a key milestone in our vision to expand exchange-traded access to @Seinetwork. pic.twitter.com/nTuCLAjXyY
— 21Shares US (@21shares_us) August 28, 2025
The firm also left open the possibility of staking SEI within the ETF to enhance returns, though it cautioned that legal, regulatory, or tax concerns may restrict such a feature.
SEI Network Gains Spotlight
Launched in August 2023, Sei Network is a layer-1 blockchain optimized for trading infrastructure, powering decentralized exchanges and digital marketplaces. Its token, SEI, is used for transaction fees and governance.
At press time, SEI trades around $0.30, up 4.2% in the past 24 hours, with a market cap ranking of 74th on CoinGecko.
Competing Filings for SEI Exposure
US digital asset investment firm Canary Capital also filed for an SEI ETF, in April, which would “offer institutional and retail investors direct exposure to staked SEI,” and also have “passive income via staking rewards,” according to an April 30 statement from the SEI network.
Commenting on that filing, Justin Barlow, executive director of the Sei Development Foundation, called ETFs a “gateway for broader adoption” that links crypto to mainstream financial markets.
Wider ETF Push Across Crypto
The SEI filings arrive amid a broader surge of crypto ETF applications. 21Shares already offers the ARK 21Shares Bitcoin ETF and has pending requests for funds tied to SUI, XRP, and Ondo.
The SEC is reportedly weighing a streamlined approval framework, which could shorten review periods to 75 days if no formal objection is raised — potentially accelerating launches across the sector.
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