21Shares Submits SEI ETF Application, SEC Continues Review of Altcoin ETFs

On the 28th, cryptocurrency management company 21Shares submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) targeting SEI. The SEC is currently continuing its review of several altcoin spot ETF applications, and this new proposal has now been added to the queue. The proposed fund, named '21Shares SEI ETF,' aims to provide direct exposure to the price of SEI, the native cryptocurrency of the Sei Network. In its prospectus, the company also mentioned the possibility of staking a portion of the SEI tokens it holds to earn rewards. However, the SEC...