21Shares Seeks SEC Approval for SEI ETF, Eyes Staking Potential

Crypto asset manager 21Shares has submitted an application to the U.S. Securities and Exchange Commission for a new exchange-traded fund linked to SEI, the native cryptocurrency of the Sei blockchain. The proposed ETF aims to provide investors with a regulated route to gain exposure to SEI through traditional investment accounts, without holding the token directly.

Structure, Pricing, and Potential Staking of the SEI ETF

According to the filing, the ETF’s price will be based on an index calculated by CF Benchmarks Ltd., which aggregates trading data from major SEI platforms. This method is designed to reflect the token’s actual market value accurately.

21Shares has indicated that the proposed ETF may engage in staking SEI to generate additional returns, including potentially using liquid staking tokens. The company emphasized that no decision has been made yet, and any staking would depend on its assessment that such activities can be conducted without undue legal, regulatory, or tax risk.

Coinbase Custody Trust Company would serve as the custodian for the SEI tokens, while CSC Delaware Trust Company would act as trustee to oversee compliance and proper operation of the fund.

This submission comes as interest in crypto ETFs continues to grow, even though the SEC is still reviewing multiple applications for altcoin-focused funds. Filing the S-1 registration statement represents a formal step in the approval process and provides details on the ETF’s structure, pricing, and operations.

21Shares described the filing as a significant milestone in its efforts to expand exchange-traded access to the Sei blockchain. This initiative follows a similar filing from Canary Capital, which has also applied to the SEC to launch a SEI-based ETF for U.S. investors. 

Both companies are targeting institutional and retail investors who seek exposure to SEI, with the potential to earn additional returns if staking is implemented within a regulated fund structure.

SEI Market Trends and Analyst Outlook

SEI’s price has risen slightly, trading at approximately $0.3014, representing an increase of more than 2% in the last 24 hours. Market analyst Ali Martinez noted that SEI is currently consolidating within a symmetrical triangle, suggesting a period of price stability.

Martinez highlighted that a breakout above this pattern could target a price range between $0.36 and $0.50. Conversely, if support near $0.285 fails, the token could experience downward pressure.

Growing Interest in Regulated Crypto Funds

Currently, the U.S. has approved spot ETFs only for Bitcoin and Ethereum, while other cryptocurrencies, including SEI, remain pending approval. This makes the proposed SEI ETF part of a broader effort to expand altcoin access through regulated investment products.

Several issuers are exploring ETFs for a variety of cryptocurrencies, including XRP, Cardano, and Dogecoin, signaling rising interest in offering regulated exposure to a broader range of digital assets. 21Shares currently manages the ARK 21Shares Bitcoin ETF and has also filed for new funds focused on SUI, XRP, and Ondo.