The Cboe has filed to list Canary Capital’s staked Injective ETF, potentially making it the third staked crypto ETF following Solana and Ether.
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The Chicago Board Options Exchange (Cboe) filed to list shares of Canary Capital’s proposed staked Injective exchange-traded fund (ETF), further expanding the wave of regulated crypto investment products in the United States.
The Cboe’s 19b-4 , submitted Monday, came after investment firm an S-1 application for a staked Injective () token fund with the US Securities and Exchange Commission (SEC) on July 17, Cointelegraph reported.
The fund aims to accrue staking rewards by offering validation services using an “approved staking platform.”
If approved, it would be the third staked altcoin ETF, following the approval of () and staked Ether () ETFs on June 30.
The filing comes amid a more favorable regulatory environment under the administration of US President Donald Trump, which has supported .
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The SEC has yet to formally acknowledge the ETF filings from Canary Capital and the Cboe. Once acknowledged, the SEC will announce key deadlines for an initial response, which is typically between 30 and 45 days, possibly early September.
However, the SEC’s complete review period can extend up to 240 days, meaning that the staked INJ ETF’s final decision may not come until March 2026.
In a key decision in May, the SEC ruled that . The new guidance marked a for the US cryptocurrency industry, according to Alison Mangiero, head of staking policy at the Crypto Council for Innovation.
“The SEC has now recognized what we’ve long argued: Staking is a core part of how modern blockchains operate, not an investment contract,” she told Cointelegraph, adding that this “clarity is critical.”
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If approved, Canary Capital’s ETF would give traditional investors exposure to the Injective protocol’s governance token, increasing liquidity and visibility for the asset.
The ETF inflows may help the utility token recapture its previous all-time high of $52, recorded on March 14, 2024. The token remains down more than 71% from its previous peak, trading at $15.10 at the time of writing, data showed.
For Bitcoin (), accounted for about in the world’s first cryptocurrency when its price rose above $50,000 in February 2024 after the approval of the first US spot BTC ETFs.
However, the market response to Ethereum’s spot ETF has been more muted.
Ether’s price fell over 38% in the two weeks after the spot ETFs debuted for US trading in 2024, from $3,441 on July 23, down to a local bottom of $2,116 on Aug. 5, before it started recovering, data shows.
The outflows from Grayscale’s Ether ETF (ETHE) added significant selling pressure for the world’s second-largest cryptocurrency. To date, the fund has realized over $4.3 billion worth of net negative outflows, as the only Ether ETF issuer in the red, Farside Investors shows.
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