SEI Token Soars 25% as Canary Capital's Revised ETF Filing Sparks Market Attention

Canary Capital's revised proposal for a Staked SEI ETF has sent SEI token prices soaring. The filing, which would hold spot SEI and stake roughly 90% of its holdings, sparked a 25% price surge in just 24 hours. CoinMarketCap data showed SEI near $0.059, with trading volume above $229 million and market capitalization around $450 million.

The revised ETF structure combines direct token ownership with staking, giving the fund exposure to the underlying token and potentially generating network rewards inside the ETF structure. BitGo would serve as the sole custodian for the fund's SEI holdings.

SEI's market reaction was immediate, reaching weekly and monthly highs following the filing. The combination of rising price and sharply higher volume suggests the amendment quickly became a significant catalyst for short-term market attention. However, approval is still pending, leaving investor demand unresolved.