21Shares Files for Spot SEI ETF, Joining the Rush to Launch Crypto ETFs

Crypto asset manager 21Shares has submitted a registration statement with the SEC for a spot Sei (SEI) ETF. This marks the latest in a wave of filings from over 90 firms seeking to launch crypto ETFs. The proposed SEI ETF will track the price of altcoin Sei using data from various exchanges, and Coinbase Custody Trust Company will act as the custodian. While the possibility of adding staking to generate additional returns for investors is being investigated, this addition remains under review due to potential legal and regulatory challenges.