A spot SEI ETF is an exchange-traded fund that directly holds the SEI token, providing regulated, tradable exposure to the SEI network. 21Shares filed an S‑1 with the SEC naming Coinbase Custody as custodian, potentially accelerating institutional access if approved.
-
21Shares filed with the SEC for a spot SEI ETF using Coinbase Custody as custodian.
-
Canary Capital submitted the first SEI ETF application in April with staking exposure.
-
SEI token rose over 4% after the filing; total value locked reached $682 million.
SEI ETF: 21Shares files for a spot SEI ETF with Coinbase Custody. Learn how the filing affected SEI price, TVL ($682M), and ETF competition—read analysis.
What is a spot SEI ETF?
A spot SEI ETF is a fund that would hold the SEI token directly to track the CF SEI‑Dollar Reference Rate and offer investors tradable exposure on public markets. The 21Shares S‑1 filing names Coinbase Custody as custodian and positions the product for both institutional and retail investors.
How does the 21Shares filing differ from Canary Capital’s application?
21Shares filed an S‑1 registration statement after Canary Capital’s April submission. Canary’s proposal explicitly included staking SEI tokens to capture rewards. 21Shares noted staking is being considered but will depend on legal, tax, and regulatory assessments before implementation.
21Shares described the filing as a “key milestone” in expanding exchange-traded access to the SEI network. The filing states the fund would track the CF SEI‑Dollar Reference Rate, which aggregates price data across multiple trading venues to reduce reliance on any single exchange.
We’re excited to announce that we’ve filed with the SEC for a SEI ETF in the U.S. – a key milestone in our vision to expand exchange-traded access to @Seinetwork. pic.twitter.com/nTuCLAjXyY
— 21Shares US (@21shares_us) August 28, 2025
How will the filing affect SEI token price and on‑chain metrics?
Markets reacted quickly: SEI traded higher after the filing, rising over 4% to approximately $0.30 on same‑day reports. On‑chain data shows SEI’s total value locked (TVL) at about $682 million, supported by protocols including Dragonswap.
ETF filings can increase demand by lowering barriers for institutional capital. If approved, a spot SEI ETF could increase liquidity and broaden access, but regulatory outcomes and fund structure (e.g., staking inclusion) will shape the magnitude of impact.
Frequently Asked Questions
Will the SEC approve a spot SEI ETF?
There is no guarantee. The SEC evaluates S‑1 filings on market integrity, custody, valuation, and investor protection. Reports indicate the agency may adopt a streamlined 75‑day review path, but final approval depends on the SEC’s assessment and any objections it raises.
Can SEI ETFs include staking to boost returns?
Possibly. Some applicants, like Canary Capital, proposed staking SEI within the fund. 21Shares said staking is under consideration but will only be used if it avoids undue legal, tax, or regulatory risks.
How does a CF SEI‑Dollar Reference Rate work?
The CF SEI‑Dollar Reference Rate aggregates price data from multiple exchanges to create a single, auditable reference price for fund valuation and NAV calculations. This approach reduces reliance on any single liquidity venue.
Key Takeaways
- 21Shares filed: Submitted an S‑1 for a spot SEI ETF with Coinbase Custody named as custodian.
- Competition continues: Canary Capital filed earlier with staking exposure; multiple issuers are pursuing altcoin ETFs.
- Market impact: SEI rose over 4% on the filing; TVL reported at about $682 million, indicating strong on‑chain activity.
Conclusion
The 21Shares S‑1 for a spot SEI ETF marks a notable step in the altcoin ETF race and could broaden institutional and retail access to the SEI network if approved. Stake treatment, custody arrangements, and regulatory review will determine the fund’s structure and market impact. Readers should monitor official filings and on‑chain metrics for updates.
