Crypto Asset Manager 21Shares Files For SEI ETF, Expands Crypto ETF Race

Crypto asset manager 21Shares has filed with the US Securities and Exchange Commission to launch a spot exchange-traded fund tied to SEI, the native token of the SEI Network. This follows Canary Capital’s April application and signals growing interest in diversifying crypto ETF products.

According to the S-1 filing, CF Benchmarks will provide pricing data based on multiple exchanges, while Coinbase Custody Trust will serve as custodian. The SEI Network, launched in August 2023, is a layer-1 blockchain built for decentralized exchange and marketplace infrastructure. Its token is used for gas fees and governance.

21Shares has suggested staking SEI within the ETF to generate additional yield, though it continues assessing possible regulatory and tax risks. Currently, the US has approved spot ETFs only for Bitcoin and Ethereum. By pursuing SEI, 21Shares aims to expand investor access to emerging blockchain ecosystems. The firm called the filing a “key milestone” in its expansion strategy.

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