Canary Capital files first Injective ETF with the SEC, sending INJ price up nearly 5% in the past 24 hours.
Canary Capital has created history with the first-ever staked Injective exchange-traded fund (ETF) filed with the US Securities and Exchange Commission (SEC).
The filing caused the price of INJ to soar; over the past day, the asset has gained almost 5%.
Canary Capital Aims For Approval Of INJ ETF
Canary Capital, an investment fund, recently requested the SEC’s approval of an injectable exchange-traded fund (ETF).
Canary Capital first attempted to provide investors with regulated exposure to an INJ through an ETF.
The submission, known as the Canary Staked INJ ETF, came as institutional interest in Injective, a layer one blockchain designed for DeFi applications, increased.
Injective Labs has provided a policy remark to the SEC, helping to build a framework for DeFi regulation, and significant technology companies, including Google Cloud and T-Mobile, have joined the Injective Council.
“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.
The proposed ETF will use tokens in Injective’s proof-of-stake consensus process rather than just storing INJ tokens.
The price of INJ increased by over 5% to trade at $13.92 following the filing, while daily trading volumes increased by 3.95%.
To obtain regulatory permission, Canary Capital has registered a statutory trust for a staked injectable ETF in Delaware.
Canary Capital has already submitted applications to the US SEC for XRP and SOL ETFs.
Citing regulatory clarity and encouraging adoption indicators, the CEO of Canary Capital predicted early in the week that XRP ETFs would do better than ETH and SOL ETFs.
The submission coincides with the US House of Representatives’ desperate attempt to approve three laws about cryptocurrency.
Lawmakers are voting on the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act during what has been dubbed Crypto Week 2025.
The Canary Staked INJ ETF’s ability to operate within a stable regulatory environment will depend on its approval.
