21Shares has submitted a proposal to US regulators to launch a fund that may comply with the market worth of SEI, the native token of the Sei blockchain.
The applying, filed with the US Securities and Alternate Fee (SEC) on August 28, outlines plans to make use of pricing information from CF Benchmarks, which mixes charges from a number of crypto exchanges to offer a reference level.
If authorised, the fund can 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 monitor Bitcoin
$108,583.83
and Ethereum
$4,452.89
.
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The Sei blockchain launched in August 2023. It’s designed to help decentralized exchanges and on-line marketplaces. The SEI token is used for transaction charges and neighborhood governance.
In accordance with the submitting, Coinbase
$1B
Custody will probably be accountable for securely holding the SEI tokens linked to the ETF.
21Shares additionally talked about the potential for staking the tokens to earn further earnings, though it famous that this side continues to be beneath assessment as a result of potential authorized, tax, and regulatory considerations.
In a put up on X on August 28, 21Shares described this submitting as an essential step in increasing investor entry to the Sei community by way of regulated funding automobiles.
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