What To Know:
- Canary Capital’s updated Staked SEI ETF filing addresses SEC comments, strengthens disclosures on custody and staking mechanics, and reflects recent developments on the Sei blockchain.
- The Staked SEI ETF has been placed in DTCC’s “Active & Pre-Launch” category.
- The updates indicate that key operational steps are complete even as regulatory approval remains pending.
Canary Capital’s latest amendment to its Staked SEI ETF filing marks a decisive moment in the slow, cautious opening of U.S. markets to staking-based exchange-traded products. The update, which includes responses to comments from the U.S. Securities and Exchange Commission and a revised prospectus reflecting developments on the Sei blockchain, signals not just procedural progress but a shifting regulatory posture toward supervised, yield-generating crypto vehicles.
Canary Capital Releases Updated SEI ETF Filing
For investors, the filing clarifies how staking rewards would be captured, managed and distributed within a regulated wrapper.
JUST IN: Canary Capital has filed an updated pre-effective amendment for the Staked SEI ETF.
The filing includes responses to SEC comments and a revised prospectus reflecting recent Sei developments — a key step in the review process. pic.twitter.com/WxoZ1eEA4E
— Sei (@SeiNetwork) December 11, 2025
Staked ETFs are designed to convert what would otherwise be idle blockchain holdings into predictable income streams. They do so by delegating assets to network validators or similar staking mechanisms, and then channeling the resulting rewards back to fund holders through familiar brokerage interfaces. That mechanism, now explained in greater detail in Canary’s prospectus, addresses core questions about custody, accounting and the fund’s role in the staking process.
The amendment also underlines the operational steps issuers must complete long before an SEC decision. Canary’s Staked SEI ETF, ticker SEIZ, was recently listed by the Depository Trust & Clearing Corporation under its “Active & Pre-Launch” registry. That listing does not equal approval, but it does indicate the issuer has completed key back-office and settlement preparations. Appearing in DTCC’s system places the proposed ETF into the standard onboarding sequence for potential brokerage availability, and it signals that the issuer has aligned operational plumbing with industry norms.
Canary is not alone. Several fund managers have filed for SEI-linked products, and the broader pool of staking-focused ETF proposals now includes firms targeting Ethereum, Solana and other networks. These parallel filings create a reference set for regulators and market participants. Regulators can compare structures, custody arrangements and distribution mechanics across competing proposals , and issuers can iterate more effectively when a market standard begins to take shape.
Regulatory shifts at the federal level have also eased part of the uncertainty that once surrounded staking inside ETFs. Recent administrative guidance has introduced clearer tax and compliance guardrails for products that hold, stake and distribute rewards. Those frameworks typically require single-asset holdings, qualified custodians, SEC-aligned liquidity provisions and strict limits on the fund’s operational role. Where ambiguity once deterred filings, new rules have reduced legal friction and made sponsorship of staking-based vehicles more practicable.
Still, the DTCC listing and updated prospectus do not guarantee approval. The SEC review remains active, and the fund cannot yet create or redeem shares. But Canary’s amendments demonstrate a deliberate, incremental approach to meeting regulatory expectations. The firm’s responses aim to show that staking rewards can be brought into a regulated environment without compromising investor protections.
In August, Crypto asset manager 21Shares also filed with the US SEC to launch an exchange-traded fund tracking the price of SEI, following Canary Capital’s application in April.
The S-1 registration statement filed with the SEC proposed utilizing crypto price index provider CF Benchmarks to track the price of SEI, using data from multiple crypto exchanges.
As per the filing by 21Shares, Coinbase Custody Trust Company would act as the SEI custodian, while 21Shares also floated the possibility of staking SEI to generate additional returns. However, the firm said in the filing it’s still investigating whether there would be “undue legal, regulatory or tax risk.”
