BREAKING: 21Shares Files for Game-Changing Spot SEI ETF with Staking Option in US
Wall Street's crypto embrace gets another major player—21Shares just dropped its SEI ETF filing with the SEC, and this one might actually let investors earn yield through staking.
Why This Matters
Unlike your grandpa's Bitcoin ETF, this proposal includes built-in staking mechanics—meaning holders could earn passive income on top of potential price appreciation. Finally, an ETF that doesn’t just sit there like a dormant savings account.
The Regulatory Hurdle
The SEC hasn’t exactly rolled out the red carpet for crypto staking in ETFs. 21Shares is betting that their structure—likely involving a third-party staking provider—will pass muster. Good luck navigating those regulatory minefields.
SEI’s Moment
The SEI network—built for high-speed trading applications—gets its first major US financial product. Nothing says 'mainstream adoption' like a Wall Street-approved wrapper.
Let’s be real—traditional finance still can’t decide whether crypto is an asset class or a nuisance, but they’ll happily collect fees on it either way. Another day, another ticker symbol for brokers to push.
SEC’s Recent Crypto ETF Delays Are Possibly Not Denials
Following several delays, the SEC is expected to issue decisions on several pending applications in October, including products tied to Trump Media and solana (SOL).
Altcoin ETF issuers are pressing forward with new amendments, hoping that October deadlines could be a turning point for the crypto ETF landscape.
The SEC recently delayed decisions on the approval of Truth Social’s Bitcoin and ethereum ETF, besides XRP and Litecoin funds. The US watchdog has marked Oct. 8 as its next deadline for both Truth Social’s crypto ETF products.
Nate Geraci, president of NovaDius Wealth, wrote on X, “crypto ETF floodgates about to open soon.”
Look at all of the crypto ETF filings out there…@JSeyff doing God's work tracking these.
What I mean by "crypto ETF floodgates about to open soon". pic.twitter.com/9tpcrtnQjm
“Pretty soon there will be more crypto ETF filings than stocks,” said Bloomberg Intelligence senior ETF analyst Eric Balchunas.
SEI Token Surges Past 4% – Will it Go Further?
Following the 21Shares’ spot SEI ETF filing, the native token rose 4.06% in the past 24 hours. The MOVE signals bullish chart structure after a 60% 90-day gain.
Parallelly, SEI’s TVL hit $682 million with DeFi protocols like Dragonswap driving usage. The surge is also attributed to the recent institutional adoption drive.
Circle’s IPO filing reveals that by the end of 2024, the company held 6.25 million SEI tokens. The holdings make the most significant token on its balance sheet compared to other crypto. Besides, the state of Wyoming shortlisted SEI for its state-backed stablecoin (WYST).
SEI is seen trading at $0.302 at press time, per CoinMarketCap data. The token’s price trajectory hinges on technical upgrades, institutional adoption, and ecosystem growth.
