21Shares Files Spot SEI ETF Registration

The crypto assets manager 21Shares has just filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to launch a 21Shares Sei ETF on August 29. SEI is the native token of the Sei Network.

BREAKING: 21Shares files S-1 with SEC to issue a SEI ETF. pic.twitter.com/eJDlPTjS75

— Sei (@SeiNetwork) August 28, 2025

If approved, this would be the first fund in the U.S. that lets investors get exposure to the SEI token through a regulated product. According to the filing, Coinbase Custody will act as custodian, while Coinbase itself will serve as prime broker. The fund’s net asset value will be tracked using the CF SEI-Dollar Reference Rate – New York Variant, a benchmark that pulls price data from multiple exchanges to ensure fairness and accuracy.

For more: Analyzing the Boom of Crypto ETFs in 2025

Furthermore, the filling also mentions that the 21Shares fund could use SEI tokens to stake if being allowed by the regulators and tax authorities. In which, the rewards from staking could generate extra returns for investors.

Shares of the fund can be created and redeemed either in cash or directly with SEI tokens, through selected counterparties approved to handle the process. 

For more: Altcoin ETFs After Solana – XRP, ADA, AVAX Next in Line

This move comes as interest in altcoin ETFs is heating up. Firms like VanEck, Bitwise, and Grayscale have also applied for ETFs tied to Solana, XRP, and Cardano. Analysts at Bloomberg say approval chances for these products are above 90%. 

NEW: @EricBalchunas & I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher. Engagement from the SEC is a very positive sign in our opinion pic.twitter.com/5dh8G8rK6Y

— James Seyffart (@JSeyff) June 20, 2025

If the Sei ETF from 21Shares is approved, it would give investors a simpler way to access with SEI token and show how digital assets are becoming more connected with traditional markets.