SEI ETF Secures Listing on DTCC, Still Pending SEC Approval

TLDR

• The Canary Staked SEI ETF has been officially listed on the DTCC platform.
• The listing does not indicate SEC approval and remains pending.
• The ETF is categorized as “active and pre-launch” in DTCC’s records.
• The ETF cannot yet be created or redeemed and remains non-operational.
• The DTCC listing is seen as a positive signal for future trading and clearing.

The Canary Staked SEI exchange-traded fund (ETF) has officially been listed on the Depository Trust & Clearing Corporation (DTCC) platform. This move marks a key step in the ETF’s journey toward full operationalization. However, it does not yet signal SEC approval, which remains pending.

According to the DTCC, the ETF is categorized as “active and pre-launch.” This indicates the ETF is technically ready for electronic trading and clearing, though it cannot be traded until further regulatory approval is granted. The listing serves as an essential procedural step, signaling that the ETF is positioned for future trading.

Although the SEI ETF cannot yet be created or redeemed, its inclusion in DTCC’s system is a clear sign of the issuer’s confidence. Market participants view this as a positive development, especially in light of recent shifts in the regulatory landscape. Analysts believe that when the market sentiment recovers, the SEI ETF could see significant growth.

Regulatory Landscape Shifts for SEI ETFs

Canary Capital filed for the staked SEI ETF earlier this year, but the SEC initially took a cautious stance. Concerns about staking mechanisms in exchange-traded products caused the regulator to delay approvals. However, recent changes in regulatory guidance could pave the way for stakeholder-inclusive ETFs like the Canary SEI ETF.

The US Treasury and the Internal Revenue Service issued Revenue Procedure 2025-31. This procedure establishes a clear safe-harbor framework for crypto ETFs and trusts. It mandates conditions for custody, staking, and asset management that could support future SEC approval of staking ETFs.

The new guidelines also address tax uncertainties and specify that such ETFs can only hold one type of digital asset. These changes give more clarity on the operations of crypto ETFs, including the Canary Staked SEI ETF. As a result, this regulatory shift boosts market participants’ confidence and increases optimism about the ETF’s approval.

Other Firms Eyeing SEI ETF Opportunities

Canary Capital is not the only firm interested in launching a staked SEI ETF. Rex-Osprey has also filed a proposal for a similar product to address the growing demand for exposure to the Sei Network. Moreover, 21Shares is seeking SEC approval for its own SEI-focused ETF, highlighting broader institutional interest in the network.

The strong capital flow into Sei Network further underscores the growing institutional interest in SEI. Artemis Analytics reports that Sei currently ranks second in net flows over the past 24 hours. The network has seen significant inflows, indicating investor confidence in SEI’s future potential.

Despite this, on-chain data presents a more complex situation for the Sei Network. DefiLlama’s figures show a substantial drop in total value locked (TVL) for the network during November. This decline reflects a significant liquidity shortfall, with 1 billion SEI tokens unstaked.

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