Canary Capital Files for SEI ETF

On Thursday, the Sei team announced via a blog post that Canary Capital has filed an S-1 with the US Securities and Exchange Commission (SEC) to register the first-ever SEI-based Exchange Traded Fund (ETF) in the US.

The ETF would offer institutional and retail investors direct exposure to staked SEI, the native token of Sei Network, through a regulated, conventional, and accessible investment vehicle. 

The proposed ETF’s structure will offer passive income via staking rewards. Similar to other crypto filings from Canary Capital, the SEI fund would stake a portion of spot tokens to earn additional yield, bringing key onchain use cases into traditional finance

Sei is a high-speed Layer 1 blockchain tailored for the digital asset boom, from NFTs to DeFi. The blockchain intends to unlock a brand-new design space for consumer-facing applications. Its native coin, SEI is up 2.6% in the last 24 hours and is now trading at $0.2212 per coin.