Cryptocurrency Asset Manager Canary Capital has registered legal confidence in Delaware for a Steates -Sei ETF.
According to an entry of 23 April on the Delaware Division of Corporations website, the Trust was officially submitted under the name “Canary Stusted Sei ETF Trust”. This application represents the formal creation of a legal structure that could ultimately retain and manage the assets of the fund.
Sei is a block-of-stake blockchain network that is designed for high-speed trading applications. From April 24, 2025, its native token, SEI, has a market capitalization of around $ 982 million. Setting Sei -Tokens currently offers an annual yield of approximately 4.7%, according to data from Stakerewerards.com.
Trust itself does not yet make the ETF tradable. The next step includes Canary Capital when submitting a form S-1 registration statement with the US Securities and Exchange Commission. This application would outline the details of the proposed ETF, including how it intends to use Sei -Tokens and distribute rewards to investors.
Canary’s Sei Trust Depeling only comes a few days after the company submitted A form S-1 for the SEC for a Stanted Tron (TRX) ETF on April 18.
Just like the SEI proposal, the TRX fund would hold Spot -Tokens and use part of it to generate extra yield. It is a relatively rare step in the current archives, because most issues usually look for approval to add it only after their spot eth are mentioned.
Approval of the SEC is required before the ETF can launch, and given the cautious attitude of the desk about setting, the process can take time. Previous efforts to take in the US-listed crypto-etfs are confronted with delays or recordings, although there is renewed optimism under the current administration.
Since President Donald Trump took over earlier this year, the SEC has seen a sharp increase in crypto-related ETF reports. The regulator now assesses a greater variety of proposals, including those associated with non-traditional assets such as NFTs and Memecoins.
Canary Capital is one of the more active players in this changing environment. In addition to setting-based products, the company recently followed an ETF when keeping the Pudgy Penguins Ecosystem, which would combine exposure to the Pengu-Governance token and the NFTs of the project.
Other archives of Canary are ETF proposals for Solana (SOL), Axelar (AXL), XRP and Sui (SUI).
