Canary Capital has filed for approval from the SEC to launch the first exchange-traded fund (ETF) focused on SEI, the cryptocurrency associated with the Sei blockchain. This ETF, called the Canary Staked Sei ETF, will allow investors to gain exposure to SEI and includes a staking component, enabling them to earn additional SEI rewards through transaction validation in the network’s proof-of-stake process. SEI is currently the 85th largest cryptocurrency by market capitalization, with a recent trading price just above $0.225, showing a 7% increase in 24 hours. This application joins a wave of ETF filings from various fund issuers aiming to track diverse cryptocurrencies, following the SEC's recent approvals of Bitcoin and Ethereum-based ETFs. The momentum in the crypto ETF space suggests interest from issuers in developing new opportunities for investors to engage with alternative cryptocurrencies.

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