- Canary Capital plans to stake an estimated 90% of the ETF’s SEI holdings under the amended filing.
- BitGo serve as the sole custodian for the fund’s entire SEI position, with the ETF expected to trade on Cboe BZX.
Canary Capital has submitted Amendment No. 2 to its S-1 registration statement for a Staked SEI ETF. Significantly, this filing is more than a technical update. The second amendment substantially revises how the fund plans to handle staking. Also, it is moving to an estimated 90% of assets staked, with BitGo serving as the sole custodian for the entire position.
The ETF will hold spot SEI and is expected to trade on Cboe BZX. The ticker and sponsor fees have not yet been disclosed, but the structural direction is clear. This is a yield-bearing, staked crypto product designed to give investors direct exposure to SEI while generating staking returns on the majority of held assets.
What Changed Between Amendments
The key shift in Amendment No. 2 is the staking mechanics. The revised filing introduces a more specific and aggressive staking allocation, around 90% of assets, and consolidates custody entirely with BitGo. It removes ambiguities around how and where assets are held.
Canary Capital has been building out a focused lineup; it already has two active yield-bearing staked crypto products on the market. They are Canary Staked TRX ETF trading under the ticker TRXS and the Canary Staked SUI ETF under SUIS. A staked SEI ETF would extend that lineup with a third network, each chosen for its staking yield potential.
SEI Price and Market Impact
As of 21 September, SEI is trading around the $0.05766 mark, surging by over 20.9%. Furthermore, its volume is settled at $132.794 million. Additionally, the 24-hour range has stretched from $0.04705 to $0.05813. The upper end of that range is sitting just above the current price. It likely suggests the filing news drove a sharp move that is now consolidating near session highs.
An ETF filing of this nature, particularly with a 90% staking allocation and a named custodian, signals institutional-grade infrastructure being built around SEI. That kind of structured demand narrative tends to sustain price momentum beyond the initial reaction.
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