Canary Capital Charges at SEC with First-Ever Sei ETF—Staking Rewards Included
Wall Street’s latest crypto gambit just upped the ante. Canary Capital is bulldozing into regulatory territory with a filing for the first Sei-based ETF—and it’s packing staking yields to sweeten the deal.
Why it matters: This isn’t your grandpa’s Bitcoin ETF. By bundling staking rewards, Canary’s move forces the SEC to confront the existential question it’s been dodging—are proof-of-stake tokens securities or commodities? Cue the bureaucratic squirming.
The fine print: The proposal arrives as Sei Network gains traction as an Ethereum competitor, though its token remains 60% below ATH. Skeptics whisper this smells like a Hail Mary play for relevance—because nothing screams ’bull market’ like repackaging altcoins as institutional products.
Bottom line: Whether this gets approved or not, the real win is watching traditional finance finally acknowledge what crypto natives knew years ago—staking rewards turn ’hold’ into a verb with compounding superpowers. The SEC’s printers are probably overheating from all the new paperwork already.
