CoinShares, one of Europe's leading crypto asset management companies, has launched a new exchange-traded product (ETP) offering investors direct access to the Sei (SEI) token. This product, which will be traded on the SIX Swiss Exchange under the ticker symbol "CSEI," stands out for its management-free nature and its 2% annual automatic staking return.
The new ETP is physically backed by SEI tokens and offers investors the opportunity to directly invest in SEI's Layer-1 blockchain infrastructure. With this move, CoinShares aims to eliminate the custody and operational challenges previously faced by institutional investors seeking access to SEI.
A European First: Regulated Access to SEI
With the launch of this product, CoinShares has launched the first regulated investment vehicle for the SEI token. The Sei network, characterized by high speed and low latency, is a Layer-1 blockchain designed specifically for applications requiring real-time transactions, such as decentralized exchanges (DEXs), derivatives protocols, and Web3 game projects.
CoinShares, with a digital asset management portfolio exceeding $8 billion, is one of the largest players in the European crypto investment space. The company recently became the first crypto asset manager in Europe to receive a Markets in Crypto Assets (MiCA) license, providing a strategic advantage in the expansion of such products. Thanks to CoinShares's European licensing network, the new ETP is accessible through a passport system in many countries.
ETPs are growing, but lagging compared to the US
While dozens of ETPs like SEI exist in Europe offering crypto asset investments, adoption of these products is not as widespread as spot Bitcoin ETFs in the US. According to JustETF data, there are a total of 108 crypto ETPs in Europe, with total assets under management of approximately €13.92 billion ($16.21 billion). In contrast, BlackRock's IBIT product alone has over $86 billion in net assets. The total net asset value of spot Bitcoin ETFs in the US exceeds $151.4 billion. This difference highlights the fact that crypto investment vehicles in Europe have not yet entered the mainstream.
CoinShares' Strategic Move
The new SEI-based ETP, with both staking returns and zero management fees, is seen as a step that strengthens CoinShares' focus on institutional investors. The company aims to increase its market share by offering investment opportunities in a regulated framework, particularly for growing projects that stand out with their fast transaction capabilities.
The SEI token is trading at $0.33306153, according to market data. At the time of writing, the coin is down 3 percent. However, it traded at a daily high of $0.34.
