Canary Capital Updates Staked SEI ETF Filing Canary Capital has taken another step toward launching a spot $SEI exchange-traded fund, filing a second amendment to its S-1 registration stateme
Canary Capital has taken another step toward launching a spot $SEI exchange-traded fund, filing a second amendment to its S-1 registration statement with the U.S. Securities and Exchange Commission. The move keeps the asset manager firmly in the race to bring regulated exposure to @SeiNetwork tokens to traditional investors.
The revised filing makes two headline changes. First, @BitGo is named as the sole custodian for the fund's entire $SEI position, consolidating an arrangement that had previously involved multiple custodians. Second, and more notably, the amendment substantially revises the fund's staking mechanics: approximately 90% of the ETF's SEI holdings are expected to be actively staked, giving the fund a yield-generating component on top of straightforward spot exposure.
If approved, shares would list on Cboe BZX Exchange and trade in 10,000-share creation and redemption baskets. The fund's ticker symbol and sponsor fee have not yet been disclosed.
The filing did not go unnoticed by traders. $SEI jumped more than 30% within 24 hours of the amendment becoming public, with trading volume surging over 200%, underscoring how closely the market is tracking regulatory progress on altcoin ETFs.
The staked SEI product would sit alongside Canary's existing lineup of yield-bearing staked ETFs, which already includes products tied to TRX and SUI. A 90% staking allocation signals an aggressive commitment to generating returns from the underlying asset rather than simply warehousing it, a structure that could appeal to institutional allocators looking for yield in a digital-asset wrapper.
The registration statement remains pre-effective, meaning the fund cannot launch until the SEC formally declares it effective. No timeline for a decision has been set.
Sources:CoinCodex: Canary Capital Moves Closer to SEI Staking ETF With 90% Stake PlanStartup Fortune: A Single SEC Filing Amendment Sent SEI's Price Up 30% in a DayTron Weekly: Canary Capital Updates Staked SEI ETF Filing With S-1 Amendment
