Canary Capital Files Amendment No. 2 for Staked SEI ETF

Canary Capital files second amendment for Staked SEI ETF

Canary Capital has filed Pre-Effective Amendment No. 2 to its S-1 registration statement for the proposed Canary Staked SEI ETF, according to Cointelegraph. The filing outlines a spot SEI exchange-traded fund that would also seek to generate additional SEI through staking.

The amendment was filed with the U.S. Securities and Exchange Commission on September 15, 2026. The proposed fund remains subject to the registration statement becoming effective before its shares can be offered to investors.

Canary Staked SEI ETF Targets Spot SEI Exposure

The proposed ETF is designed to provide direct exposure to the price of SEI held by the trust. According to the amended S-1, the fund would hold SEI and calculate its net asset value using the CoinDesk SEI Benchmark Rate 60m NY Rate.

The fund also has a secondary investment objective: earning additional SEI through participation in the SEI Network’s proof-of-stake validation process. Canary Capital would stake the trust’s SEI under a liquidity risk management policy designed to comply with the exchange’s listing requirements.

The filing identifies Canary Capital Group LLC as the sponsor of the trust and BitGo Trust Company as the custodian responsible for holding the fund’s SEI. The proposed ETF is intended to trade on the Cboe BZX Exchange.

SEC Filing Remains Preliminary

The amended registration statement is explicitly marked as preliminary. The document states that the information may be changed and that the securities cannot be sold until the registration statement becomes effective.

That distinction means the filing represents a further step in Canary Capital’s proposed ETF process rather than confirmation that the product is already available for trading.

The amendment also provides details on the fund’s valuation process. The CoinDesk SEI Benchmark Rate is based on the underlying CoinDesk SEI Benchmark Rate and aggregates executed trade flow from major SEI trading platforms.

Staking Adds a Second Investment Objective

Unlike a conventional spot product focused solely on tracking an underlying asset, the Canary Staked SEI ETF would seek to generate additional SEI through staking while maintaining exposure to the token itself.

The structure places custody, valuation and staking arrangements within the proposed fund framework. BitGo would hold the trust’s SEI, while Canary Capital would oversee the staking strategy described in the filing.

The next key stage for the proposed product is the SEC's effectiveness decision on the registration statement. Until that occurs, the Canary Staked SEI ETF remains a proposed investment product rather than a publicly available ETF.

writer: Ethan Collins
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