21Shares Submits SEI Spot ETF: SEI Price Bounces
21Shares, a Swiss-based crypto funding firm, has filed an S-1 registration with the SEC to ascertain the 21Shares SEI ETF, a passive fund monitoring the CF SEI-Greenback Index. If regulatory situations allow, the fund can replicate staking rewards.
SEI’s value reacted positively within the quick time period, whereas technical sentiment leans towards a rebound from help ranges.
Fund Will Give SEI’s Staking Rewards
In line with the SEC Filing S-1, the 21Shares Sei (SEI) ETF is a passive fund that goals to trace the CF SEI-Greenback Reference Price (New York Variant) from CF Benchmarks. The ETF doesn’t use leverage or derivatives; its creation/redemption mechanism might be accomplished in money or in-kind. Coinbase Custody has been appointed because the SEI custodian.
A key distinction is that the fund could replicate rewards from staking a portion of SEI. That is solely doable if the sponsor determines there isn’t any authorized or tax danger, together with consideration of utilizing LSTs, thereby sustaining grantor belief standing. In different phrases, the “staking” part is non-obligatory and depending on regulatory approval.
Notably, the SEC has repeatedly delayed choices on permitting staking options in Grayscale’s spot ETH funds, with the ultimate deadline anticipated in October 2025. This indicators that any altcoin ETF in search of to combine staking “yields” will possible face equally rigorous scrutiny. Subsequently, though 21Shares has included the staking possibility on paper, the chance of implementation at itemizing is low until additional SEC steering emerges.
Beforehand, CBOE filed the Canary Staked SEI ETF 19b-4 with the U.S. SEC. The SEC delayed 21Shares’ XRP ETF submitting, regardless of rising optimism round regulatory developments and up to date market enthusiasm.
SEI Worth Up 3.33%
SEI trades round $0.30 on the time of writing, up 3.33% for the day. It has a market cap of roughly $1.82 billion and 24-hour buying and selling quantity above $210 million. This scale is enough for a specialised ETF to draw extra institutional flows, favoring belongings wrapped in listed buildings.
From a technical perspective, analysts on X notice that SEI has bounced from a key help space, confluencing with the decrease boundary of a triangle/“bullish pennant” sample, with goal references round $0.345, and—if a powerful breakout happens—probably towards $0.60.
“SEI bounced again from a vital help stage and is prone to shut a powerful week.” Michaël van de Poppe commented
Different views spotlight that SEI is consolidating above the $0.29 zone, suggesting the potential to keep up a bullish construction. This stays a state of affairs goal, not a dedication; value could fluctuate broadly earlier than establishing a transparent route. Traders ought to mix danger administration with invalidation ranges somewhat than chasing headlines.
The put up 21Shares Submits SEI Spot ETF: SEI Price Bounces appeared first on BeInCrypto.
