29-8-2025 – Crypto asset manager 21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) tracking SEI, the native token of the Sei network. Announced Thursday, the S-1 registration proposes using CF Benchmarks to track SEI’s price, aggregating data from multiple crypto exchanges.
The Sei network, a Layer-1 blockchain launched in August 2023, focuses on trading infrastructure for decentralized exchanges, with SEI used for gas fees and governance. Coinbase Custody Trust Company will serve as the custodian, and 21Shares is exploring staking SEI for additional returns, pending regulatory and tax assessments.
The filing, first reported by 21Shares on X, follows Canary Capital’s April application for a staked SEI ETF, signaling growing interest in the token, currently priced at $0.30 with a 4.2% 24-hour gain, per CoinGecko. The push for SEI ETFs reflects a broader wave of applications for non-Bitcoin and Ethereum crypto ETFs, including Solana, XRP, and Cardano, from issuers like VanEck and Grayscale.
The SEC’s potential adoption of a streamlined approval process, which could auto-approve ETFs after 75 days without objection, may accelerate launches, according to crypto journalist Eleanor Terrett. Such changes could bridge crypto and mainstream markets, as noted by Sei Development Foundation’s Justin Barlow.
