Headlines
- Canary Capital submits application for SEI-based staked ETF
- US regulator mulls over growing stack of crypto ETF applications, including Canary's
Unleashing the Power of Blockchain Investments with Canary Capital and SEI
Capital Canary Pursues SEC Authorization for Inaugural SEI ETF Including Staking Mechanism
Breaking away from the norm, crypto funds issuer Canary Capital has taken a leap in applying for the first exchange-traded fund (ETF) grounded on the performance of SEI - the token of the Sei layer-1 blockchain. As per an SEC filing on April 30, 2025, the Canary Staked Sei ETF is intended to provide investors with not just exposure to SEI but also the additional perk of earning extra yields through staking.
"The Trust's investment objective is to.....provide exposure to the price of Sei held by the Trust," the filing stated. The secondary objective, on the other hand, is for the trust to acquire extra SEI tokens through validating transactions in the SEI Network's proof-of-stake process.
Crypto staking essentially involves pledging proof-of-stake coins or tokens to a network in exchange for rewards.
Lending its momentum to the growing list of altcoin-focused funds, Canary's application includes ETFs based on Litecoin, Pengu, and Sui.
SEI, currently the 85th largest cryptocurrency by market cap, was recently trading for more than $0.225, a 7% surge in the past 24 hours, as per CoinGecko data.
Following in the footsteps of top asset managers, the regulator's green light for spot Bitcoin ETFs in early 2024 marked the most successful ETF launch to date. Although the SEC approved Ethereum ETFs last year, these haven't garnered the same trading action as their Bitcoin counterparts. However, fund managers are persistent in seeking approvals for funds that would track the prices of digital coins like Solana, Dogecoin, and XRP.
Article Edited by James Rubin
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Enrichment Data Summary:
- The Canary Staked Sei ETF application was filed on April 30, 2025, under a Delaware statutory trust structure, and is currently awaiting the SEC's decision, with a decision deadline extended to July 2025.
- The Canary Staked Sei ETF aims to provide investors with both exposure to SEI and additional yields through staking, bridging the gap between decentralized finance (DeFi) and traditional asset management.
- Apart from the Canary Staked Sei ETF, Canary Capital has also applied for ETFs based on Litecoin, Pengu, and Sui.
- SEI is currently the 85th largest cryptocurrency by market cap, and its price significantly increased, by 7%, in the 24 hours preceding the filing.
- Canary Capital's move to apply for the Canary Staked Sei ETF, grounded on SEI's performance, signifies a bold step in the realm of crypto investments, utilizing proof-of-stake coins.
- The Canary Staked Sei ETF seeks to offer investors two benefits: exposure to SEI and the added advantage of earning extra yields through staking.
- Lending credence to the surge of altcoin-focused funds, Canary's application incorporates ETFs based on Litecoin, Pengu, and Sui apart from SEI.
- The Canary Staked Sei ETF's success could potentially bridge the gap between decentralized finance (DeFi) and traditional asset management.
- Cryptocurrency staking, a process involving the pledging of proof-of-stake coins or tokens to a network for rewards, is a key aspect of the Canary Staked Sei ETF's strategy.
- The SEC's decision on Canary's ETF application, filed on April 30, 2025, is pending, with a decision deadline extended to July 2025.
- The growing list of crypto ETF applications, including Canary's, is evidence of investor interest in cryptocurrency as a viable asset class.
- Technological advancements in blockchain and decentralized technologies, such as Ethereum, Solana, Dogecoin, and XRP, continue to attract the attention of fund managers seeking to track their prices through ETFs.
