Canary Capital Launches New SEI-Based Cryptocurrency ETF
Date: 2025-05-02 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The company has filed an application with the SEC to launch a new ETF that will focus on the SEI token used in the Sei Network. This fund differs from the standard ones in that, in addition to tracking the price, it will be involved in staking tokens, which will provide additional income for investors.
The essence of this fund is that it does not just store tokens, but also blocks them in the network to receive rewards, as ordinary users do. At the same time, investors receive profit without having to delve into the technical details of the blockchain, and the fund takes care of all staking issues. After the announcement of this product, the SEI rate rose by 3.67%, reaching $0.2184, according to CoinMarketCap.
To ensure the security of assets, Canary Capital chose two large custodians - BitGo and Coinbase Custody. This is especially important for those who are just starting to invest in cryptocurrencies and want to be sure that their funds are safe.
Canary Capital is developing new crypto ETFs
However, the SEI-based ETF is just the first step for Canary Capital. The company is already working on launching several other crypto funds. In particular, an application was recently submitted for the creation of an ETF focused on the TRON (TRX) token. This fund will have a similar structure: tracking the price of the token and generating income through staking.
Interestingly, Canary Capital also plans to create spot ETFs for other popular cryptocurrencies. Their list already includes:
- SOL is a blockchain that provides fast and cheap transactions, popular among decentralized application developers.
- XRP is focused on global transfers with low fees.
- SUI is a new blockchain offering high speed and simple architecture.
- HBAR uses Hashgraph technology, which is significantly different from the traditional blockchain.
- PENGU is a meme token inspired by a popular NFT project.
This diverse selection speaks to Canary’s desire to attract both serious investors and crypto newbies.
How will this change the market?
These ETFs make it much easier to enter the cryptocurrency market. There is no need to install wallets, understand staking, or delve into the complex technical details of the blockchain. All you need to do is buy the ETF like a regular stock, making this product understandable even for those who have never dealt with cryptocurrencies.
Staking ETFs are a relatively new concept. They not only replicate the price of tokens, but also provide additional income due to their participation in the blockchain. If this model gains popularity, other companies may follow Canary Capital’s example and launch similar products.
The SEC is currently reviewing an application to launch the SEI ETF. The remaining applications are expected to receive responses in the future, and some of them may hit the market by the end of 2025.
The SEC approval could not only attract more investment into cryptocurrencies, but also increase confidence among major players. Canary Capital appears to be aiming to make cryptocurrencies accessible to a wider range of investors.
