21Shares S-1 for Coinbase-Custodied Spot SEI ETF

21Shares has filed an S-1 registration with the U.S. SEC to launch a spot SEI ETF, with Coinbase Custody Trust Company as custodian. The SEI ETF will passively track the CF SEI-Dollar Reference Rate, aggregating prices across multiple venues while excluding leverage and derivatives. It offers cash or in-kind SEI subscriptions and redemptions via Authorized Participants, and staking or liquid staking options remain under legal, tax, and regulatory review. The fund is seeded with initial capital and will list under a ticker post-approval, remaining open for up to three years. On the filing day, SEI token rose over 4% to $0.30, and on-chain data shows a TVL of $682 million. Approval could lower barriers for institutional capital, boosting liquidity and long-term access to the SEI network.