21Shares files to launch SEI ETF, joining race with Canary Capital

SEI is the native token of the Sei network, a layer-1 blockchain specializing in trading infrastructure for decentralized exchanges and marketplaces.

Crypto asset manager 21Shares filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund tracking the price of SEI, following Canary Capital’s similar application in April. 

The S-1 registration statement filed with the SEC on Thursday proposes utilizing crypto price index provider CF Benchmarks to track the price of SEI, using data from multiple crypto exchanges.

SEI is the native token of the SEI network, which was launched in August 2023. The network itself is a layer-1 blockchain that specializes in trading infrastructure for decentralized exchanges and marketplaces. Its native token can be used to pay for network gas fees and participate in governance. 

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