Canary Capital Seeks Approval for First Staked SEI ETF

Canary Capital has filed a proposed application with the SEC to launch its first-ever Staked SEI ETF. This novel product will allow investors to directly invest in SEI, the native token of the Sei Network, by tracking its spot market price determined by CoinDesk Indices and calculating its Net Asset Value (NAV) at 4 PM New York time each day. The ETF will hold actual SEI tokens rather than derivatives, using a custodial approach provided by BitGo Trust Company and Coinbase Custody Trust Company for secure asset management. It offers an accessible entry point to investing in SEI without requiring knowledge of blockchain technology or private keys.