21Shares has submitted a proposal to US regulators to launch a fund that might observe the market worth of SEI, the native token of the Sei blockchain.
The appliance, filed with the US Securities and Trade Fee (SEC) on August 28, outlines plans to make use of pricing knowledge from CF Benchmarks, which mixes charges from a number of crypto exchanges to supply a reference level.
If authorized, the fund could be among the many first within the US to supply entry to SEI within the type of an exchange-traded product. At present, the one crypto exchange-traded funds (ETFs) buying and selling within the US observe Bitcoin
$108,393.17
and Ethereum
$4,341.67
.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
What’s Staking Crypto? (Rewards & Dangers Defined SIMPLY)
The Sei blockchain launched in August 2023. It’s designed to assist decentralized exchanges and on-line marketplaces. The SEI token is used for transaction charges and group governance.
In accordance with the submitting, Coinbase
$1.19B
Custody shall be chargeable for securely holding the SEI tokens linked to the ETF.
21Shares additionally talked about the opportunity of staking the tokens to earn further revenue, though it famous that this facet continues to be underneath evaluation resulting from potential authorized, tax, and regulatory issues.
In a put up on X on August 28, 21Shares described this submitting as an vital step in increasing investor entry to the Sei community by regulated funding autos.
Lately, the SEC elevated the utmost variety of choices contracts that could be held for ETFs. What’s the new cap? Learn the complete story.
