Canary Capital Files 'Staking Say ETF' Trust Registration in Delaware, USA

# Canary Capital Registers Trust for Staking Sei (SEI) ETF in Delaware Canary Capital, a prominent U.S.-based asset management firm, has officially filed a statutory trust in Delaware to pave the way for a Staking Sei (SEI) Exchange-Traded Fund (ETF). This strategic move aligns with the firm's ongoing initiatives to broaden its range of crypto-based investment products. According to information on the Delaware Division of Corporations' website, the trust was registered under File Number '10171975' on October 23. This filing comes shortly after Canary Capital submitted an application for a TRON (TRX) Staking ETF on October 18. The next critical step involves submitting an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), initiating the formal ETF launch process. The S-1 registration is vital for companies aiming to register and sell securities on the market for the first time. # Expanding Crypto-Backed ETF Offerings Beyond Sei (SEI), Canary Capital is actively working on ETFs linked to several altcoins, such as Pudgy Penguins (PENGU), Axelar (AXL), Solana (SOL), and XRP (XRP). This diversification underscores the firm’s ambition to capture a wider segment of the burgeoning digital asset investment market. The Staking Sei ETF is crafted to track the price of Sei tokens while simultaneously offering investors staking rewards. This dual advantage allows investors to benefit from potential price appreciation while earning passive income, akin to dividends, merely by holding the token. However, the U.S. has yet to greenlight any digital asset spot ETFs incorporating staking features. # Regulatory Landscape for Staking ETFs Historically, the SEC has taken a cautious stance on ETFs with staking capabilities. Several proposals for staking-enabled ETFs were retracted in the past year due to regulatory uncertainties. Nonetheless, a recent shift towards a more crypto-friendly administration has revitalized efforts to advance staking ETFs. For instance, Franklin Templeton filed an S-1 registration statement in February for a Solana staking ETF, and Grayscale has requested the addition of staking features to its Ethereum spot ETF. These actions indicate a growing momentum among issuers to secure regulatory approval in this emerging investment category. Despite the rising optimism, the SEC's final decision on such products remains unpredictable, and the approval process is expected to undergo extensive scrutiny. Investors and issuers will be closely monitoring the regulatory developments in the coming months.