This transfer follows intently after Canary filed for the same staked ETF for Tron (TRX) on April 18. The corporate can be exploring ETF filings for a number of altcoins, together with Solana (SOL), XRP, Axelar (AXL), and even Pudgy Penguins (PENGU).
A staked SEI ETF wouldn’t merely monitor the worth of the SEI token but additionally give staking rewards. This might give traders each value publicity and passive revenue.
The SEC stays cautious about staking, as seen in previous ETF rejections. Nonetheless, with a extra crypto-friendly local weather, asset managers are attempting once more. Franklin Templeton filed for a staking-enabled SOL ETF in February, whereas the NYSE not too long ago submitted a request for Grayscale so as to add staking to its Ethereum ETF.
Though progress is being made, the SEC not too long ago pushed its choice deadline to July 2025. So, Canary’s SEI ETF may face delays.
Curiosity in SEI continues to develop. World Liberty Monetary has purchased 5.9 million SEI tokens, boosting investor confidence. In the meantime, the Sei Basis is supporting U.S. development with the launch of its Growth Basis on April 2.
Regardless of these efforts, SEI’s value has dropped 70% in a yr. It now trades at $0.19.
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