Canary Capital has filed a second amended S-1 registration statement for its proposed Staked SEI ETF, marking another step in the development of a potential investment product focused on the SEI ecosystem.

According to PANews, the ETF is designed to hold spot SEI, while approximately 90% of its assets are expected to be staked. BitGo is expected to serve as the fund’s sole custodian.

The proposed structure combines exposure to spot $SEI with staking, potentially allowing the fund to participate in the network’s staking mechanism while maintaining institutional custody arrangements.

The filing represents an important development in the ongoing process for the proposed ETF. However, the filing itself does not mean that the ETF has been approved or launched.

Market participants will now be watching for further regulatory developments and updates regarding the product.

$SEI investors and traders will likely be paying close attention to how this ETF proposal progresses.

DYOR — Not Financial Advice.