Sei ETF Filing Signals Broader Institutional Push
21Shares has filed for a spot SEI ETF with the U.S. SEC, marking the first U.S.-listed ETF tied to Sei (SEI), a layer-1 blockchain focused on DeFi and high-speed trading. If approved, the ETF would track the CF SEI-Dollar Reference Rate, with Coinbase Custody managing cold storage and Coinbase Inc. as prime broker.
Staking Rewards Under Review
The filing leaves room for potential SEI staking within the ETF, though regulatory clarity is still needed. If included, it would represent a major step in incorporating staking yields into altcoin-based ETFs—a concept also under discussion with Solana ETF proposals.
The 21Shares move comes shortly after Canary Capital filed its own Sei ETF application, highlighting a surge of altcoin ETF proposals that extend beyond Bitcoin and Ethereum. Asset managers like VanEck and Franklin Templeton have also submitted filings for Solana, Cardano, and XRP spot ETFs.
Regulatory Outlook Remains Uncertain
While the SEC has approved Bitcoin and Ethereum ETFs, its stance on smaller altcoins remains cautious. Still, the SEI ETF filing reflects growing institutional demand to enter emerging layer-1 ecosystems through regulated vehicles.
