Benthic Biomancer

{1}{U}: Adapt 1. (If this creature has no +1/+1 counters on it, put a +1/+1 counter on it.)
Whenever one or more +1/+1 counters are put on Benthic Biomancer, draw a card, then discard a card.

Brineborn Cutthroat

Flash (You may cast this spell any time you could cast an instant.)
Whenever you cast a spell during an opponent's turn, put a +1/+1 counter on Brineborn Cutthroat.

Lord of Atlantis

Other Merfolk get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Cold-Eyed Selkie

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Whenever Cold-Eyed Selkie deals combat damage to a player, you may draw that many cards.

Subtlety

Flash
Flying
When Subtlety enters the battlefield, choose up to one target creature spell or planeswalker spell. Its owner puts it on the top or bottom of their library.
Evoke—Exile a blue card from your hand.

Svyelun of Sea and Sky

Svyelun of Sea and Sky has indestructible as long as you control at least two other Merfolk.
Whenever Svyelun attacks, draw a card.
Other Merfolk you control have ward {1}. (Whenever another Merfolk you control becomes the target of a spell or ability an opponent controls, counter it unless that player pays {1}.)

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Kopala, Warden of Waves

Spells your opponents cast that target a Merfolk you control cost {2} more to cast.
Abilities your opponents activate that target a Merfolk you control cost {2} more to activate.

Merrow Reejerey

Other Merfolk creatures you control get +1/+1.
Whenever you cast a Merfolk spell, you may tap or untap target permanent.

Cosi's Trickster

Whenever an opponent shuffles their library, you may put a +1/+1 counter on Cosi's Trickster.