Investment firm 21Shares wants to launch a new type of crypto fund that tracks the price of a digital token called Sei (SEI).
Unlike many existing funds, this one proposes a way to earn extra income on the tokens by “staking” them—a process similar to earning interest.
However, the key financial regulator, the SEC, has been slow to approve this staking feature for other proposed funds and is currently reviewing many similar applications for ETFs based on other cryptocurrencies.
The approval of this Sei ETF, especially with its staking plan, is uncertain and hinges on the SEC’s ongoing evaluation of the crypto market.
