On August 28, 2025, 21 Shares, a global leader in cryptocurrency exchange-traded products (ETPs), submitted an S-1 registration application to the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) that tracks the price of the Sei network's native token, SEI. This move marks a new wave of excitement in the cryptocurrency ETF market and provides investors with a convenient way to access emerging blockchain assets. The application from 21 Shares not only reflects the rapid evolution of the crypto market but also highlights the potential of the Sei network as a Layer-1 blockchain. This article will use this event as a starting point to explore the significance of cryptocurrency ETFs and the unique value of the SEI token and the Sei network.

21 Shares' Spot Sei ETF: Details and Significance

The 21 Shares spot Sei ETF aims to track the price performance of the SEI token through the CF SEI-Dollar Reference Rate provided by CF Benchmarks. The fund employs a passive investment strategy, avoiding leverage or derivatives, ensuring price transparency and a close tie to the market. Coinbase Custody Trust Company will act as the cold storage custodian for the SEI tokens, while Coinbase Inc. will handle trade execution, providing security and liquidity for the fund.

Notably, 21 Shares mentioned in its application that it may generate additional returns for investors by staking SEI tokens. Staking is a consensus mechanism used by many blockchain networks that allows token holders to lock up assets to support network security and earn rewards. However, due to the SEC's unclear regulations regarding staking-related products (for example, the approval of Grayscale's Ethereum ETF staking feature has been delayed multiple times), 21 Shares stated that it would proceed cautiously based on the regulatory environment.

This application is not an isolated event. In early 2025, Canary Capital submitted a similar SEI ETF application, demonstrating strong market interest in the Sei network. The SEI token rose 3.33% shortly after the application was announced, reaching approximately $0.31, with a market capitalization of about $1.82 billion and a daily trading volume exceeding $210 million. Despite some recent selling pressure in the market, analysts remain optimistic about SEI's long-term potential, predicting that its price may break through $0.70 or even reach $1 in the future.

Cryptocurrency ETFs: A Bridge Between Traditional Finance and Blockchain

Cryptocurrency ETFs are investment tools that combine crypto assets with traditional financial markets, allowing investors to purchase fund shares through brokerage accounts and indirectly hold cryptocurrencies without directly managing private keys or using crypto exchanges. This product lowers the technical barrier, enabling ordinary investors to participate in the crypto market while being protected by traditional financial market regulations.

Since the U.S. approved the first Bitcoin spot ETFs in 2024, the crypto ETF market has rapidly heated up. In August 2024, Ethereum spot ETFs were also approved for listing, paving the way for the approval of other crypto asset ETFs. Currently, ETF applications for assets like Solana, XRP, and Cardano are also waiting for the SEC's decision. The rise of crypto ETFs has not only driven institutional capital inflow but also enhanced the legitimacy and market acceptance of cryptocurrencies.

However, the SEC remains cautious about crypto asset ETFs other than Bitcoin and Ethereum, primarily concerned about market manipulation, insufficient liquidity, and investor protection issues. The application for 21 Shares' Sei ETF is proposed against this backdrop, and its success may depend on further clarification of the regulatory environment. Analysts expect that October 2025 could be a critical time for the SEC to make decisions on multiple crypto ETFs, including SEI.

SEI and the Sei Network: The Potential of Next-Generation Blockchain

SEI is the native token of the Sei network, which is a Layer-1 blockchain launched in August 2023, specifically optimized for decentralized exchanges (DEX) and trading infrastructure. The Sei network achieves high throughput and low latency through parallel processing and an optimized consensus mechanism, claiming to be the "first Layer-1 blockchain designed for trading." Its core features include:

High-Performance Trading: The Sei network is optimized for order book trading, supporting thousands of transactions per second, with transaction confirmation times as low as hundreds of milliseconds, far exceeding many traditional blockchains.

Ecosystem Expansion: The Sei network supports various decentralized finance (DeFi) applications, including decentralized exchanges, derivatives platforms, and NFT markets. Its ecosystem has attracted multiple developers and projects.

Token Functionality: The SEI token is used to pay network gas fees, participate in governance, and potentially earn staking rewards. Holders can support network security through staking and earn returns.

As of the end of August 2025, the price of the SEI token is approximately $0.30, ranking it among the top in the crypto market. Although recent market volatility has led to a decline in open contracts, indicating a weakening of short-term demand, the technical advantages and ecosystem growth of the Sei network provide support for its long-term value.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。