Canary Capital has submitted paperwork to the U.S. SEC aiming to launch what may become the first spot ETF focused on Sei (SEI), a cryptocurrency tied to the Sei blockchain.
This proposed ETF would stand out by including a staking feature, potentially allowing it to generate passive returns for investors.
The fund is designed to track SEI’s market value directly, with custody managed by BitGo and Coinbase. It would handle subscriptions and redemptions in cash rather than through direct crypto transfers, aligning with how current spot Bitcoin and Ethereum ETFs operate in the U.S. market.
SEI powers the Sei network, a Layer 1 blockchain that leverages the Cosmos SDK and supports Ethereum-compatible smart contracts. Known for its speed and cross-chain functionality, Sei blends the familiarity of Ethereum’s development environment with performance goals akin to Solana.
Canary Capital has been actively expanding its crypto ETF offerings, recently proposing funds linked to assets like Sui, Litecoin, Hedera, Pengu, and Tron — the latter also including a staking component.
In a related move, the Sei Foundation recently introduced the Sei Development Foundation, an initiative aimed at boosting the blockchain’s ecosystem and encouraging broader crypto adoption in the United States.
A new liquid staking token, Haedal Protocol (HAEDAL), is making its way to Binance’s spot market this week, accompanied by an airdrop targeting loyal BNB holders.
XRP’s market performance has taken a hit, shedding over $16 billion in value over the past week as regulatory indecision continues to cloud its outlook.
Momentum is building across the digital asset space as Bitcoin edges closer to its previous peak near $109,000, igniting renewed speculation about whether a broader altcoin surge is about to follow.
Sui (SUI) has surged by 81.5% in the past month and has jumped to the 11th place in the list of most valuable cryptocurrencies as per data from CoinMarketCap. The launch of the SUI Trust by Grayscale and the submission of an application by 21Shares for a SUI-linked exchange-traded fund (ETF) were some of the […]