Sei Surges 24% on Staked ETF Filing, Giga Upgrade
Sei's price surged by over 24% in the past 24 hours, driven mainly by the news of an amended S-1 filing by Canary Capital for a staked SEI ETF. The ETF will hold at least 90% of its SEI holdings and will be listed on Cboe BZX with BitGo as custodian.
The staking angle is particularly powerful because it combines ETF branding with staking yield, which many traders interpret as a way for institutions to earn on otherwise idle holdings. This narrative reframes SEI as a potential institutional and yield asset rather than just another L1 token.
The Giga upgrade and a sizable tokenized fund on Sei also contributed to the price increase. The Giga upgrade aims to achieve around 200,000 transactions per second, positioning Sei as a high-throughput L1 for trading-style apps.