SEC receives documents from 21Shares concerning a proposed ETF including a possible staking feature
In the ever-evolving world of cryptocurrencies, there's been a flurry of activity recently. Here are some of the key developments that have caught our attention.
Firstly, the race to launch the first SEI ETF in the US is heating up. Canary Capital filed its SEI ETF application in April 2025, and 21Shares followed suit shortly after. This move has intensified the competition, as multiple other exchanges have also submitted altcoin ETF applications for the US regulator to review.
The 21Shares SEI ETF, if approved, will track the CF SEI-Dollar Reference Rate in USD and will have Coinbase Custody Trust Company holding custody of investors' assets. It's worth noting that the SEI ETF is structured as a passive product, intended only to mirror SEI's price movements. Shares of the Sei ETF may be subscribed to or redeemed by Authorized Participants using cash or in-kind transfers.
Another significant development is the expected launch of XRP and Dogecoin ETFs this week. XRP, the native token of Sei Network, is used for fees, governance, and staking. Sei Network is a Layer 1 blockchain focusing on high-performance trading and exchange-based apps.
Investors are keeping a close eye on the altcoin XRP 2.0, which is expected to jump from $0.0987 to $5 by December. However, as with any investment, there are risks involved, and it's essential to do thorough research before making any decisions.
Meanwhile, Pantera has backed Solana with a $1.1B bet, with a potential target of $750K Bitcoin. Solana creators have received $19.3M from Pump.Fun streams.
Unfortunately, not all news in the crypto sphere has been positive. A user lost $1M USDC to a MEV bot after a mistaken transaction. This incident serves as a reminder to always double-check transactions before confirming them.
On a separate note, the crash in Nvidia stock by 3% is attributed to China accusing the company of breaching anti-monopoly law.
In more positive news, Santander's Openbank has rolled out Bitcoin, Ether, and more for European users. On the other hand, a UAE M2 crypto exchange has dropped its business model, while a M2 crypto exchange based in the UAE has decided to shift its focus.
Lastly, Next Technology has filed for a $500M common stock offering to buy more BTC. This move indicates a growing confidence in the potential of Bitcoin as an investment.
As always, it's crucial to stay informed and make decisions based on reliable sources. Happy investing!
