Adding to the recent exchange-traded fund (ETF) launch requests, Canary Capital and 21Shares have filed for approvals from the Securities and Exchange Commission (SEC) regarding the launch of different ETFs. Canary Capital sought the first Sei (SEI) ETF for staking, whereas 21Shares requested Sui (SUI) ETF approval.
Canary Capital is an Australian-based investment service firm that offers crypto asset trading and management. 21Shares is headquartered in Switzerland and provides cryptocurrency exchange-traded products (ETPs).
Canary Capital S-1 filing on Thursday remarks its venture into the first ETF fund related to SEI, a crypto token, and a blockchain built for trading purposes. If the SEC approves the SEI ETFs, the investors in the company can earn additional income on staking their investments.
Meanwhile, reports showed that 21Shares’ SUI ETF intends to offer broader access to the token that possesses a fast transaction network. The firm has also revealed its collaboration with Sui for further activities. Unlike Canary Capital’s staking concept, 21Shares would not look to offer staking rewards in the US. However, its European counterpart offers staking rewards with XRP ETFs.
Furthermore, the registration statement named crypto exchange Coinbase as the custodian responsible for protecting the funds of investors. However, the company has not yet announced the ticker name for the ETF or the exchange on which it will be traded.
It is worth noting that ETF issuer ProShares proposed the idea of a short XRP ETF, the Ultra XRP ETF, and the Ultra Short XRP ETF in January 2025. Although the firm expected that the SEC would approve the launch of these ETFs on April 30, the approval did not happen. The company is expecting May 14 as the new date for the XRP futures ETF launch. However, Teucrium, an investment company, has successfully launched its 2x Long Daily XRP ETF (XXRP) on April 8. Notably, Brazil recently launched the first-ever XRP spot ETF on the Brazil Stock Exchange.
