{"id":15493,"date":"2025-08-29T04:34:38","date_gmt":"2025-08-29T02:34:38","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=15493"},"modified":"2025-08-29T04:34:38","modified_gmt":"2025-08-29T02:34:38","slug":"21shares-seeks-approval-for-spot-sei-etf-in-the-crypto-sphere","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/08\/29\/21shares-seeks-approval-for-spot-sei-etf-in-the-crypto-sphere\/","title":{"rendered":"21Shares Seeks Approval for Spot SEI ETF in the Crypto Sphere"},"content":{"rendered":"

<\/p>\n

\n

The cryptocurrency asset management firm 21Shares has submitted a filing to the US Securities and Exchange Commission (SEC) to establish an exchange-traded fund that will track the value of SEI, following the application by Canary Capital in April.<\/p>\n

The S-1 registration document submitted<\/a> to the SEC on Thursday suggests partnering with crypto price index provider CF Benchmarks to monitor the price of SEI, utilizing data from various crypto exchanges<\/a>.<\/p>\n

SEI is the native token of the Sei network, which was introduced in August 2023. This network operates as a layer 1 blockchain that focuses on trading infrastructure for decentralized exchanges and marketplaces. Its native token is utilized for covering network gas fees and engaging in governance processes.<\/p>\n

Coinbase Custody Trust Company will serve as the custodian for SEI, while 21Shares has also proposed the potential for staking SEI<\/a> to achieve additional profits. Nonetheless, the firm noted in the filing that it is still examining whether there will be no \u201cexcessive legal, regulatory, or tax risks.\u201d<\/p>\n

Competition for the first SEI ETF<\/h2>\n

Presently, there are no sanctioned spot crypto ETFs in the US beyond Bitcoin and Ethereum, although numerous applications for ETFs aimed at other cryptocurrencies exist.<\/p>\n

In a post on X on Thursday, 21Shares declared<\/a> that the ETF filing represents a \u201ccrucial milestone in our ambition to broaden exchange-traded access to the SEI Network.\u201d<\/p>\n

Cointelegraph contacted 21Shares for additional insights.<\/p>\n

Source: <\/em>21Shares US<\/em><\/a><\/figcaption><\/figure>\n

Currently, SEI is priced at $0.30 after experiencing a 4.2% increase over the past 24 hours. CoinGecko positions<\/a> SEI at 74th place in terms of market capitalization.<\/p>\n

Another SEI ETF application has already been submitted<\/h2>\n

The US digital asset investment firm Canary Capital also submitted an application for an SEI ETF in April, which would \u201cprovide institutional and retail investors with direct exposure to staked SEI,\u201d and further yield \u201cpassive income through staking rewards,\u201d as per<\/a> an April 30 announcement from the SEI network.<\/p>\n