A new development has occurred in the spot ETF market, which represents altcoins in traditional markets. According to a statement from SEI (Securities and Exchange Commission), REX Shares and
A new development has occurred in the spot ETF market, which represents altcoins in traditional markets. According to a statement from SEI (Securities and Exchange Commission), REX Shares and Osprey Funds have updated their SEI staking ETF applications submitted to the SEC and set October 23 as the effective date for the product.
Documents submitted to the SEC indicate that the product, named “REX-Osprey SEI + Staking ETF,” has previously been mentioned in relevant registration documents. The planned ETF aims to provide investors with exposure to spot SEI price movements, as well as to utilize the fund’s SEI assets for staking activities.
REX Shares and Osprey Funds are reportedly developing their SEI product alongside their ETF projects targeting various crypto assets such as NEAR, HYPE, SUI, and AVAX. The two companies had previously launched crypto investment products including the SOL+ Staking ETF, which features staking capabilities.
Following this development, the SEI price rose. According to market data, the SEI has gained approximately 6.4 percent in the last 24 hours and is trading at $0.07765.
The chart shows the increase in the SEI price.
*This is not investment advice.
Continue Reading: News of a Spot ETF for an Altcoin Triggered a Rally
