Crypto asset manager 21Shares filed with the SEC to launch an ETF tracking the price of SEI, using CF Benchmarks data from multiple crypto exchanges. SEI is the native token of the Sei network, designed for decentralized exchanges and marketplaces. Coinbase Custody Trust will act as SEI custodian, with the possibility of staking for additional returns.

21Shares aims to be the first to launch an SEI ETF in the US, marking a significant milestone in their strategy to expand exchange-traded access to the SEI Network. SEI currently trades at $0.30, ranking 74th in market capitalization on CoinGecko.

Canary Capital also filed for an SEI ETF in April, offering direct exposure to staked SEI and passive income through staking rewards. ETFs like these are seen as a bridge between crypto and mainstream markets for broader adoption.

Other ETF issuers like VanEck, Bitwise, and Grayscale have submitted applications for various cryptocurrencies, while the SEC is exploring a simplified listing structure to automate the approval process, potentially reducing back-and-forth communication.

Read more at Cointelegraph: Crypto Asset Manager 21Shares Files for Spot SEI ETF