21Shares Seeks Launch of SEI ETF With Potential Staking Yield for US Investors

Asset Management firm 21shares has submitted itself to the Securities and Exchange Commission to launch a listed fund that follows native token of the SEI blockchain.

The proposed 21shares Sei ETF would offer investors exposure to SEI and at the same time declaration Submitted on Thursday.

After successful launches from Spot Bitcoin and Ethereum ETFs in 2024, fund managers focus on smaller digital assets, including Solana, Dogecoin, XRP and other altcoins under a crypto-friendly Trump administration.

The primary goal of the trust is “to follow the performance of SEI”, with a secondary focus on generating “rewards by laying part of the trust Sei,” is the submission.

It is “very likely that the SEI ETF of 21Shares would be accepted and available together with Bitcoin and Ethereum ETFs,” said Krishnendu Chatterjee, CEO and co-founder of A2ZCrypttinvestment, told Decrypt.

“21Shares Sei ETF is a step in the direction of a broader application in the regulated Alt investment (including insert benefits),” he added.

Nevertheless, 21Shares confirmed that it has not yet concluded that expansion can be offered under a public trust structure, according to the prospectus.

The Trust will use Coinbase Custody Trust Company as its primary custodian for SEI Holdings, while Coinbase Inc. will serve as the most important broker for trading activities, according to the submission.

The relocation contributes to the submission of Canary Capital van The first Sei ETF application In May, which also shares similar stake objectives.

Multiple Crypto ETF applications are now in the game and Face SEC Decree deadlines in October, with supervisors who extend assessment periods for Spot XRP funds From different emennials and Solana ETF proposalsAmong other things.

Experts from the industry wide to expect A series of approvals that start in October based on established listing standards.

“Together with Digital Asset Treasury Companies, ETF’s offer exposure to a new asset class for institutions, and it is no exception, but would be a new normal,” said Chatterjee, and noted that “XRP, Solana and Avax ETF’s have high opportunities to be approved by the end of the year.”

Sei Currently it is the 74th largest crypto due to market capitalization at around $ 1.82 billion.

Token acts around $ 0.30 after recent winnings, according to CoenteckoAlthough it remains around 73.7% under its March 2024 of all time of $ 1.14.