Crypto Asset Manager 21 Shares Files for Spot SEI ETF star-news.press/wp

Crypto Asset Manager 21shares submitted to the US Securities and Exchange Committee (SEC) to launch a trading box for an exchange that tracks the price of SEI, after requesting Canary Capital in April.

S-1 registration statement foot With SEC on Thursday, it suggests using Crypto CF price index standards to track the SEI price, using data from multiple encryption exchanges.

SEI is the original SEI network, both launched in August 2023. The same network is a group of Blockchain layer 1 specialized in trading in infrastructure for exchanges and decentralized markets. Its original symbol can be used to pay network gas fees and participate in governance.

Coinbase Custody Trust Company will work as a SEI goalkeeper, while 21 Shares has also offered the possibility of SEI to generate additional returns. However, the company said in the deposit that it is still achieving whether there are no “legal, regulatory or tax risks.”

Race for the first time SEI ETF

There are currently no expanded encryption boxes in the United States outside Bitcoin and Ethereum, although there are many applications for the traded investment box qualifiers targeting other cryptocurrencies.

In the publication of X on Thursday, 21shares He said The ETF file was “a major landmark in our vision to expand the scope of rolling access to the SEI network.”

Cointelegraph has reached 21 charts for more comment.

SEI is currently trading $ 0.30 after an increase of 4.2 % in the past 24 hours. Coingecko Rows SEI is 74th in market value.

Another ETF SEI has already been offered

Canary Capital in the United States of America also applied to get SEI ETF in April, which “would provide institutional investors and investors that head to Staped SEI”, as well as “negative income through Stokeing Bonuses”. According to To April 30 statement from the SEI network.

Justin Barlo, CEO of the SEI Development Corporation, said in a statement after the Canary Capital’s file that the circulating investment funds are a “wider adoption gateway, providing a vital bridge between encrypted markets and prevailing markets.”

Flood of other ETF applications waiting for the wings

21Shares already has the market’s investment funds, including Ark 21shares Bitcoin ETF, which tracks the price of Bitcoin (BTC), and has applied to others to track SUI (SUI), XRP (XRP) and ONDO, the DEFI ENDO FINANCE platform.

Other exporters from ETF such as Vaneck, BitWise, Grayscale submitted requests for Solana (SOL), while other exporters are following products associated with XRP and Cardano (ADA) and even miminate like Dogecoin (DOGE).

Related to: ETPS after the last $ 1.4 billion losses in the last Bitcoin

In an attempt to simplify the approval process, SEC is said to explore a simplified menu that would automate a large part of the approval process, according to the Crypto Eleanor Terrett journalist.

“The exporters will present the SEC standard S-1 model and wait for 75 days. If SEC does not publish an official protest, ETF is automatically approved for its inclusion, and may reduce the backward communication between the fund managers and the organizer.

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