Canary Capital Registers Delaware Trust for Staked SEI ETF Amid Expanding Crypto ETF Filings
24.04.2025 08:50
Canary Capital, a cryptocurrency asset manager, has registered a statutory trust in Delaware under the name “Canary Staked SEI ETF Trust” for its proposed staked SEI ETF. The filing, documented on April 23 via the Delaware Division of Corporations, establishes a legal structure intended to eventually hold and manage SEI tokens, which underpin a high-speed trading proof-of-stake blockchain network. However, the ETF is not yet tradable; the next step involves the submission of a Form S-1 registration statement to the SEC, which will outline how the fund will stake SEI tokens and distribute rewards to investors. This development comes shortly after the firm filed for a staked TRX ETF on April 18. Additionally, Canary Capital has proposed ETF products related to the PENGU token and NFTs, as well as for assets like Solana (SOL), Axelar (AXL), XRP, and SUI. The series of proposals reflects a broad push into staking-based crypto investment products amidst a generally optimistic regulatory environment, though SEC approval remains a critical and potentially time-consuming hurdle.
The trust filing for a staked SEI ETF is expected to enhance investor sentiment for SEI. In the short term, anticipation of an approved product could drive modest price gains, while long-term prospects hinge on successful SEC approval and subsequent institutional uptake, capitalizing on the network's staking yield.
The recent submission of a Form S-1 for a staked TRX ETF suggests growing institutional interest. Historically, similar filings have sparked positive market reactions. Short-term momentum is likely, with the potential for longer-term gains if regulatory approval validates the staking model.
The filing related to an ETF holding the PENGU token and NFTs may attract niche investor interest. Given its relatively lower market profile compared to major assets, any regulatory endorsement could yield a moderate price boost over time as the product matures.
The inclusion of SOL in ETF proposals by Canary Capital could increase exposure to the token among institutional investors. If regulatory hurdles are overcome, this broader acceptance might translate into sustained price appreciation, bolstered by the token's utility and network adoption.
AXL's mention in the ETF filings reflects a strategic interest that could drive increased investor awareness. While short-term effects might be muted, long-term developments from staking-related activities and regulatory acceptance could support gradual price improvements.
XRP benefits from its inclusion in Canary Capital’s lineup of proposed ETF products, appealing to investors seeking diversified crypto exposure. Although historical regulatory challenges persist, positive momentum in ETF trends may contribute to incremental price gains over time.
The addition of SUI to ETF filings indicates a strategic move to diversify and boost its market presence. With increased institutional interest and potential staking benefits, investors may see both short-term optimism and long-term growth if the SEC gives its nod to the product.
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