Key Takeaways:
- 21Shares has filed with the SEC to launch a SEI ETF, directly competing with Canary Capital’s earlier application.
- The ETF would track SEI using CF Benchmarks and could include staking, pending regulatory review.
- This move is part of a broader push by asset managers to expand crypto ETF offerings beyond Bitcoin and Ethereum.
21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to SEI, the native token of the Sei network, intensifying competition with Canary Capital, which submitted a similar application earlier this year.
The proposed ETF would track SEI’s market value using CF Benchmarks, which aggregates pricing data from multiple crypto exchanges.
We're excited to announce that we've filed with the SEC for a SEI ETF in the U.S. – a key milestone in our vision to expand exchange-traded access to @Seinetwork. pic.twitter.com/nTuCLAjXyY
— 21Shares US (@21shares_us) August 28, 2025
Launched in August 2023, the Sei network is a layer-1 blockchain designed for trading infrastructure across decentralized exchanges and digital marketplaces. Its token, SEI, is used for gas fees and governance.
If approved, Coinbase Custody Trust Company would serve as custodian.
21Shares also signaled potential staking of SEI within the ETF to boost returns but is weighing legal, regulatory, and tax risks.
Canary Capital’s earlier proposal centers on a staked SEI ETF, aiming to provide exposure plus staking rewards.
This development comes as crypto ETF activity expands beyond Bitcoin and Ethereum, with applications for assets like Solana, Cardano, and Dogecoin.
The SEC is reportedly considering a streamlined approval process that could reduce delays, raising industry hopes for broader access to digital asset investment products.
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