Canary Capital files for the first SEI staking ETF offering both token exposure and staking rewards.
The ETF will use daily spot prices and secure custody from BitGo and Coinbase for SEI token storage.
The filing aims to simplify access to SEI staking for investors through a regulated investment product.
Canary Capital has submitted a registration for a staked SEI exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission. If approved, this will be the first ETF to combine SEI token exposure with staking rewards under a regulated structure.
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The filing was made on April 30, 2025, under a Delaware statutory trust. The proposed ETF will hold SEI, the native token of the Sei Network. It will also participate in staking to earn additional yield, offering investors two sources of potential return.
Daily NAV Calculation and Secure Custody
The fund’s net asset value (NAV) will be calculated daily using spot prices provided by CoinDesk Indices. These prices will reflect real-time values across major digital asset trading platforms.
BitGo Trust Company and Coinbase Custody Trust Company will act as the fund’s custodians. Both companies will store SEI tokens securely while maintaining private insurance coverage. They are not insured by the Federal Deposit Insurance Corporation.
This custodial framework will support the ETF’s staking mechanism. The fund will stake tokens on the Sei Network through trusted validators while meeting regulatory guidelines.
Simplified Exposure for Investors
Canary Capital aims to make SEI staking accessible through traditional investment channels. Investors can gain exposure using standard brokerage accounts without managing private keys or blockchain interfaces.
Staking SEI typically requires direct validator interaction, which poses technical and security challenges. The ETF removes those barriers by integrating staking into a familiar investment vehicle. This approach may attract both institutional and retail investors.
Focus on Passive Yield and Regulatory Compliance
The ETF combines token appreciation potential with passive yield generation through proof-of-stake consensus. This structure could appeal to investors seeking alternative returns in a low-interest environment.
The SEC’s response to this filing may influence future crypto-staking ETF developments. While crypto-based ETFs exist, staking introduces new regulatory questions. These include the classification of staking rewards and risks tied to validator behavior.
The filing also comes as interest in the Sei Network grows. Developer activity and DeFi integration continue to rise. The network’s expanding ecosystem may support long-term SEI adoption and usage.
Canary Expands Crypto ETF Offerings
This application marks Canary Capital’s first SEI-focused ETF. The firm previously filed for a staked ETF centered on TRX. These filings signal a broader move to offer staking-enabled crypto investment options within regulated frameworks.
The SEI ETF could bridge decentralized finance with traditional markets. Investors may benefit from both market exposure and staking returns if approved.
