Canary Capital Files For First Injective ETF, INJ Price Up

Canary Capital has made history with the filing of the first-ever staked Injective exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). The filing has sent the INJ price on a meteoric rally, with the asset gaining nearly 5% in the last 24 hours.

Canary Capital Eyes INJ ETF Approval

According to a recent filing, Investment fund Canary Capital is seeking the SEC’s approval for an Injective ETF. Canary Capital’s filing is the pioneering attempt to offer investors regulated exposure to staked INJ via an ETF.

Dubbed the Canary Staked INJ ETF, the filing comes amid heightened institutional interest in Injective, a layer one blockchain built for DeFi applications. Key technology players like Google Cloud and T-Mobile have joined the Injective Council, while Injective Labs has submitted a policy comment to the SEC, contributing to the development of a framework for DeFi regulation.

“The proposed Canary ETF would provide retail and institutional investors with direct exposure to staked INJ through a regulated investment vehicle, effectively bridging the gap between traditional and on-chain finance,” read an official statement.

Canary Capital has previously registered a statutory trust for a staked Injective ETF in Delaware as the first step for regulatory approval.

This is a developing story.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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