21Shares Files For Spot SEI ETF, Joining 92 Crypto ETF Pipeline
Crypto asset manager 21Shares has filed for a spot Sei (SEI) ETF (exchange-traded fund), joining a wave of 92 firms that Bloomberg says are rushing to launch crypto ETFs. According to an S-1 registration statement filed with the Securities and Exchange Commission (SEC), the proposed SEI ETF will tap crypto price index provider CF Benchmarks to track the altcoin’s price using data from various crypto exchanges. Coinbase Custody Trust Company would act as the proposed fund’s custodian. 21Shares also floated the idea of staking SEI to generate additional returns for investors. However, this addition is still being investigated to see if it would present “undue legal, regulatory or tax risk.” The 21 Shares filing comes amid a surge in crypto ETF applications. Of at least 92 crypto ETFs that are currently awaiting SEC approval, Bloomberg Intelligence analyst James Seyffart said there are numerous filings for Solana (SOL) and XRP in particular. NEW: H...