Cryptocurrency asset manager 21Shares has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission for the 21Shares Sei ETF, seeking to list the first U.S. exchange-traded fund backed by the Sei Network’s native SEI token. According to the prospectus, the trust would hold SEI with Coinbase Custody Trust Company and may stake a portion of the holdings to generate additional yield where regulators permit. The filing describes the fund’s primary objective as tracking SEI’s market price while passing through any net staking rewards to shareholders. The application extends a growing wave of altcoin ETF proposals. Canary Capital sought approval for a similar SEI fund in May, and Bloomberg data show more than 90 crypto exchange-traded products now await SEC decisions, following last year’s launches of spot Bitcoin and Ethereum ETFs.