Introduction to the Canary Staked SEI ETF

The U.S. SEC has officially acknowledged a filing from Cboe BZX Exchange for the Canary Staked SEI ETF, marking the start of the review and public comment process for the first U.S.-listed SEI ETF.

The Filing and Review Process

The U.S. Securities and Exchange Commission has acknowledged a filing from Cboe BZX Exchange that seeks approval to list and trade the Canary Staked SEI ETF. This acknowledgment, announced Sept. 8, begins a public comment period before the agency makes a decision.

Timeline for the Decision

The agency typically has an initial 45-day window to act on such filings, which it may extend up to 240 days. This timeframe allows for thorough review and consideration of the proposal.

Structure of the ETF

According to the filing, the ETF would be structured as a Delaware statutory trust and sponsored by Canary Capital Group LLC. Cboe BZX argues that the proposal is consistent with the Securities Exchange Act and should be treated similarly to recently approved products holding spot Bitcoin (BTC) and Ethereum (ETH).

Significance of the ETF

If approved, the Canary Staked SEI ETF would become the first U.S.-listed exchange-traded product designed to provide investors exposure to staked SEI tokens. This would be a significant development in the financial market.

Competition in the SEI ETF Space

The SEC’s acknowledgment follows an S-1 registration statement that Canary Capital submitted on April 30. The notice also comes just over a week after 21Shares filed its own S-1 on Aug. 28 for a separate SEI ETF.

Details of the 21Shares SEI ETF

That product, which names Coinbase as custodian, would track the price of SEI and may also include staking features depending on regulatory approval. This indicates a competitive landscape in the SEI ETF market.

Current Market Performance of SEI Token

Meanwhile, the SEI token is trading at $0.32, having recently confirmed horizontal support in the $0.26–$0.28 range. The next resistance levels are around $0.32–$0.33, followed by $0.36 and $0.39.

Potential for Future Gains

According to bitpulse, a breakout above $0.39 could pave the way for further gains, potentially reaching $0.43. This suggests optimism about the future performance of the SEI token.