Key Insights:
- Canary Capital files the first-ever U.S.-staked INJ ETF.
- Injective’s token gains institutional-grade access with staking rewards.
- The CLARITY Act’s passage will shape the future of crypto ETFs.
Canary Capital has officially filed the first-ever U.S.-staked INJ ETF with the Securities and Exchange Commission (SEC). The firm has already applied for other digital asset ETFs, including those for XRP and Solana. With a track record of bringing institutional-grade access to digital assets, Canary Capital is expanding its portfolio to include Injective, following the success of European products such as 21Shares’ AINJ ETP.
A Historic Filing for Staked INJ ETF
Canary Capital’s latest filing presents a new opportunity for investors to gain exposure to INJ, the native token of Injective, through a regulated exchange-traded fund (ETF). Unlike traditional crypto ETFs, which hold tokens, this staked INJ ETF will actively participate in Injective’s proof-of-stake (PoS) consensus mechanism, allowing investors to earn staking rewards while contributing to the network’s security.
This filing comes at a critical time, coinciding with the legislative push in the U.S. to create clearer regulations for digital assets. Currently in Congress, the CLARITY Act is expected to provide regulatory certainty by clearly defining the roles of the SEC and the Commodity Futures Trading Commission (CFTC) in overseeing cryptocurrencies and blockchain projects. With this act, the regulatory framework is becoming more aligned for products like staked ETFs, representing the future of institutional DeFi (Decentralized Finance).
The CLARITY Act and Its Role in Crypto Regulation
The timing of the Canary Staked INJ ETF filing is particularly significant, as it comes amid the ongoing debate in Congress about regulating digital assets. Crypto Week in Congress is centered on three bills, the CLARITY Act, the stablecoin regulation bill (GENIUS Act), and the Anti-CBDC Surveillance State Act. The CLARITY Act aims to establish clear rules regarding token classification, defining whether tokens are securities or commodities, and outlining the roles of the SEC and the CFTC in regulating them.
For Injective and the Canary Staked INJ ETF, the CLARITY Act provides an important framework that will help ensure the continued growth of blockchain products within a transparent, well-regulated ecosystem. The bill’s provisions will also discourage companies’ tendency to avoid the oversight of the SEC by being clear on the guidelines on tokenization and asset ownership, which in turn will contribute to preserving the protection of investors and the integrity of the industry.
Injective Institutional Growth and Strategic Partnerships
Injection has also captured some popularity in the institutional market, with the new partnerships and collaborations boosting its coverage. Most recently, it has partnered with Google Cloud, T-Mobile, and BitGo, the largest staking platform in the world. The joint ventures underline the rising institutional appetite in Injective and present the foundation of initiatives, such as the Canary Staked INJ ETF on the crypto market.
Eric Chen, the Co-Founder of Injective, highlighted the role of this development by saying: “Injective was purpose-built to unite traditional and decentralized finance. This ETF integrates staking into a regulated format, giving both institutions and individuals secure access to the new future of finance.”
Injective (INJ) prices have shot up by 3.9% in the last 24 hours to a level of $13.86, with a trade volume of 200.9 million, which also supports the bullish market.
The post Canary Capital Files First U.S.-Staked INJ ETF With SEC appeared first on The Market Periodical.
