21Shares Files for SEI ETF – Market Reaction Still Quiet

Swiss-based asset manager 21Shares has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to launch a spot SEI exchange-traded fund (ETF). The proposed ETF would track the CF SEI-Dollar Reference Rate, using aggregated price data from multiple crypto exchanges. The filing also includes a provision to explore SEI staking as part of the fund’s structure, if regulatory and tax conditions allow.

At this stage, however, staking remains optional. The firm has not confirmed whether it will be part of the ETF’s final design. This mirrors other recent filings in the crypto ETF space, where staking is often included as a contingency, subject to future guidance from regulators.

We're excited to announce that we've filed with the SEC for a SEI ETF in the U.S. – a key milestone in our vision to expand exchange-traded access to @Seinetwork. pic.twitter.com/nTuCLAjXyY
— 21Shares US (@21shares_us) August 28, 2025

SEI Token Price Remains Steady

Following the filing, the SEI token rose modestly, currently trading around $0.299, up roughly 1% in the last 24 hours. This level remains consistent with the price range observed throughout August, where SEI has generally fluctuated between $0.27 and $0.35.

Chart showing SEI price over the past month

Market reaction to the ETF news has so far been muted. Trading volumes have increased slightly, but the overall trend remains sideways.

Next Steps and Regulatory Outlook

The ETF filing comes as the SEC is reportedly considering a streamlined process for crypto-related ETFs, where filings could be automatically approved after 75 days if no objections are raised. If such a process is implemented, it could accelerate timelines for altcoin ETFs, including the SEI proposals from 21Shares and Canary Capital.

Look at all of the crypto ETF filings out there…@JSeyff doing God's work tracking these.

What I mean by "crypto ETF floodgates about to open soon". pic.twitter.com/9tpcrtnQjm
— Nate Geraci (@NateGeraci) August 28, 2025

There is currently no spot SEI ETF available to U.S. investors. Only few major cryptocurrencies have approved spot ETFs in the country, though applications for other assets – including SEI – are under review.

The filing from 21Shares does not guarantee approval. Like previous altcoin ETF applications, the outcome will depend on the SEC’s assessment of investor protection, market integrity, and underlying asset liquidity.