21Shares Files for SEI ETF with Coinbase Custody, Potentially Joining Canary Capital's Bid

21Shares has filed an S-1 to list a spot SEI ETF that tracks the SEI token using CF Benchmarks and Coinbase Custody as custodian. The ETF proposes optional staking to generate yield, pending legal and regulatory review. SEI is the native token of the Sei network, a layer-1 blockchain specializing in trading infrastructure for decentralized exchanges and marketplaces. The filing follows Canary Capital's bid for an SEI ETF in April.