The Path to Wall Street: Canary Capital files for Sei ETF
Sei Network Overview - May 5, 2025
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By the Numbers
$SEI token price: $0.20 (-4.76%)
Market cap: $1.02B (-3.77%)
Sei Total Value Locked (TVL): $502.7M (+21.01%)
Daily average transactions: 4.3M (+2.38%)
Daily active addresses: 380.4K (+5%)
Total wallets: 21M (+5%)
Real-time transactions per second: 50.57 tx/s (-1.33%)
Block time: 0.53s (+3.92%)
The percentages and metrics are calculated from its change over a 7-day time frame, unless noted otherwise.
Sei Showcase
Highlighting some of the biggest announcements from Sei.
💨 What’s happening: Canary Capital filed an S-1 with the U.S. Securities and Exchange Commision (SEC) to register for a SEI-based ETF.
💨 Why it matters: An S-1 is typically filed by businesses that plan to go public in order to provide securities offerings. The filing of an ETF could create a pathway for traditional investors to gain exposure to the Sei ecosystem through the SEC’s regulated medium, if approved. In turn, Canary Capital hopes to bring more users onchain through yield generation opportunities like staking, among other offerings.
Canary Capital is an institutional crypto asset trading and management company that specializes in providing access points for the broader crypto sector. In this case, this ETF filing exists within regulatory frameworks, rather outside of them. In turn, it can attract more participants who can only operate within these rails. Particularly, for institutional partners who want to enter crypto, regulatory clarity matters and an SEC-approved ETF would provide that structure.
For the Sei ecosystem, this can increase liquidity and awareness. Additionally, foster a feedback loop where investment drives development activity, enhancing the network's utility and attracting further capital.
“This proposed ETF potentially opens the door for wider participation from investors who demand institutional-grade performance with mainstream accessibility,” Justin Barlow, Executive Director at the Sei Development Foundation, stated in a post.
💨 The bigger picture: As the broader crypto industry matures and companies start to explore blockchain technology, networks like Sei can create on-ramps for capital markets that balance regulatory compliance with technological innovation.
This development represents another step for the integration of blockchain technology into the regulated financial system. Thus transforming the nicheness of web3 into a fundamental component for the future financial landscape.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Sei shared account abstraction is available on the network
Stablecoin market cap on the network hit an all-time high at $257.7M, DefiLlama data shows
Weekly DEX volume hit $144.7M, with its highest daily volume recording nearly $33M, according to DefiLlama
Unique active wallets from the past 30 days reached 2.92M, a 25% increase on the month, DappRadar data shows
What’s the community Sei’ing
Highlighting the builders, users and ecosystem players within the Sei blockchain.
Learn how the integration of Sei technology could decentralize DNA data for onchain identities
Listen to an X space hosted by Takara Lend’s co-founders regarding the upcoming points system
Mokoko updated its web3 gaming platform for mobile compatibility
Sacred Tails, a turn-based web3 game, announced its early access date is set for May 22
Lock in to the ecosystem
Want to get involved in the ecosystem? Find the latest job postings here or get involved with an activation below.
Participate in Yei Finance’s rewards campaign and earn yield on USDC, SEI, amongst other tokens
Compete in Archer Hunter’s Sei-powered web3 game and earn rewards in its ongoing campaign
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.